Cellphone maker Nokia said today fourth-quarter sales and profits would trounce previous estimates thanks to robust demand for phones and networks.
"The strong seasonal development in both Nokia Mobile Phones and Nokia Networks exceeded even our own expectations," Nokia chief executive Mr Jorma Ollila said in a statement.
The news, which sent company shares to 12-month highs, is a rare shot in the arm for Nokia after a year that was marked by worries about scant top-line growth as fierce pricing pressure and the falling dollar offset the firm's rising mobile phone volumes.
Total sales were seen at around €8.8 billion, roughly flat year-on-year but much higher than the €8.2 billion to €8.3 billion the company had indicated as recently as late November.
Its share jumped by as much as 16.18 per cent, powering the DJ Stoxx €pean tech index, in which it is the main constituent. The gains added almost €11 billion to Nokia's market capitalisation.
Nokia said sales at its mobile phone unit rose 4 per cent in the quarter to some €7 billion, with its operating margin a heady 24-25 per cent as average selling prices rose, thanks to strong demand for both pricey and cheaper models.