Nokia Corp fourth-quarter earnings per share were only 0.05 euros, after a loss of 0.29 euros a year earlier and beating analysts’ estimated 0.02 euros earnings per-share.
The mobile-phone maker said Smartphones sales dropped 55% to 1.225 billion euros in the fourth quarter of 2012, while sales dropped 66 percent from a year earlier. Net sales declined 20% to 8.041 billion from the year ago quarter, trailing analysts estimate of 8.077 billion euros.
Nokia said operating profit rose to 439 million euros compared with a loss of 954 million euros a year ago.
Nokia`s Board of Directors suggested to forgo dividends for 2012 the company struggles to retain cash to ensure a strong liquidity position. Nokia paid 0.20 euros per share in dividend back in 2011.
Nokia’s shares dropped 4.70 percent or 0.17, to 3.32 euros following the report.
The Finnish company gave a poor outlook saying it expected operating margins in the first quarter 2013 for the devices and services unit to drop 2 percent, citing increased competition as it struggles against the dominance of Smartphones market leaders like Samsung and Apple.