Nokia STORMS back into profit, FREE from phones and Windows

Nokia reported solid results on Thursday even after giving long-suffering shareholders a dividend and taking the hit of a one-time charge. Profits (non-International Financial Reporting Standards*) rose to €353m on earnings of €3.3bn, up from €2.9bn a year ago. With the Windows Phone albatross thrown to a reluctant new owner …

[sorry, what?]

A pleasant change

Congrats to those employees still left.

[Anonymous Coward]

Re: A pleasant change

My Nokia shares are now worth ~ 3 times what I paid for them :-)

[Anonymous Coward]

Re: A pleasant change

How much of that profit is saved wages from the layoffs?

[Daniel B.]

Re: A pleasant change

How much of that profit is saved wages from the layoffs?

None. The layoffs were done by Microsoft post-NokiaPhone acquisition. Maybe those laid off are going to jump to Jolla. Also noteworthy: a Nokia fund jumpstarted Jolla; so not only Nokia isn't bad on former employees, they actually help them to start up new businesses after they leave.

[Robert E A Harvey]

simple response

Good.

[hplasm]

Sounds familiar-

Sindbad ditches Old Man of the Sea, escapes to a Prosperous Future Life.

[Dan 55]

How's that karma working out for Nadella?

[Steve Davies 3]

All that cash

surely maked them a Takeover Target.

[James 51]

Re: All that cash

Only if the firm is worth less than the cash in hand.

[xyz]

A pedant types...

>Nokia is now three divisions: network equipment (Nokia Networks), mapping (HERE) and IPR licensing (Nokia Technologies), but with €2.6bn of income, the former provides most of the meat.

You can't use "former" with anything more than 2. Sorry, I'm having a bad day after my bank started sticking "Esq" at the end of my name (e.g. Mr. Jesus H. Christ Esq), making me sound like I'm part of Bill and Ted's Excellent Adventure.

[Mikel]

Totally unrelated

Microsoft profits dip 13% for the same quarter, driven by losses in recently acquired phone unit.

[Anonymous Coward]

Having Fun Microsoft?

Microsoft appear to have forgotton about Nokia already, though their rebranding could have been implemented with a bit more thought.

When you have a brand transition, from Nokia Lumia -> Microsoft Lumia, the product is always key.

Microsoft really shouldn't have started changing their online brand presence (Nokia Lumia -> Microsoft Lumia) *before* they have a product available to purchase, with the new brand 'Microsoft Lumia' on the handsets.

In the interim, all the existing 'Nokia Lumia' stock is now instantly recognisable as been 'past its sell by date', including the new Nokia Lumia 735.

'Nokia Lumia', haven't Microsoft discontinued that Branding?, Nokia no longer make Mobile phones do they?, goes the customer... I'll wait for one of the new Microsoft Lumia devices, thanks all the same. Now show me the new iPhone 6/ Moto G 2014...

...hence it looks like we're due another Nokia Branded handset Firesale.