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January 10, 2013 - 7:11 AM
HELSINKI - Nokia Corp. says fourth-quarter mobile phone sales exceeded its own expectations, sparking a sharp rise in the company's share price.
The struggling Finnish phone manufacturer says it sold a total 86.3 million devices in the last three months of 2012, including 4.4 million Lumia smart phones, while revenues amounted to some €3.9 billion.
But the company, which has seen its market share fall precipitously in recent years, adds that seasonality and competition will have a negative impact on the handset division's first-quarter profitability in comparison to the last three months of 2012.
Nokia's statement Thursday sent its share price soaring 16 per cent to €3.50 on the Helsinki Stock Exchange.
News from © The Associated Press, 2013