This has been a big year for Nokia, but not necessarily in a good way according to the always-telling year-end financial report. Finland-based Nokia was once among the uppermost elite in the mobile realm, and while it is still far from a small player, it was on a downward trend coming into this year. Even with the switcheroo from Symbian to Windows Phone, Nokia lost a lot of ground. Net sales were down from €42.4 billion in 2010 to close 2011 at €38.6 billion. And of course, as per the title, total operating profits were at a loss: (€1 billion) as opposed to €2 billion in 2010.
While €1 billion lost is hard to swallow—that’s about $1.4 billion USD—I would actually take it as a good sign that it’s not worse. Considering that Nokia spent most of the year changing gears from Symbian to Windows Phone, €1 billion lost doesn’t look half bad. In 2011, Nokia not only single-handedly turned itself around, but with—more than—a little help from Microsoft, among others, it has created a massive stir revolving around Windows Phone.
Cash and liquid asset reserves are at a healthy €10.9 billion—down from 2010, but up from 2009—making net interest-bearing debt remain on the sunny side of things by about €5.5 billion. This makes for a good outlook; Nokia is in no trouble soon. Considering the breathlessness of the multitude of newly-formed Windows Phone and Nokia 710/800/900/etc. fans and its overall financial health, Nokia looks to continue being a very serious competitor in the world marketplace.