When it comes to the world of smartphones, we are using to seeing good news from Apple (AAPL) and Google (GOOG), but today's positive news comes from an unlikely source… Nokia (NOK).
The company announced strong sales of its Lumia smartphones today and predicted that its fourth-quarter results would come in better than expected. The news was not only positive for Nokia, but also for Microsoft which teamed up with Nokia back in 2010 in hopes of advancing its Windows mobile operating system.
Nokia announced that during the quarter it sold 4.4 million Lumia devices, up sharply from the 2.9 million it sold during the previous quarter.
For Nokia, the last few years have been tough to say the least. It has been struggling to compete against Apple (AAPL) and Samsung, and so far it has not been able to really capitalize on its partnership with Microsoft. The company has been pretty successful at cutting costs though, and the future is starting to look a bit brighter for the struggling Finnish company.
Nokia is known for its solid hardware, but consumers have yet to really warm up to the new Windows mobile software. The recent launch of Windows 8 that could be changing that though. Windows 8 sales haven't exactly been earth shattering, but early reviews have been positive for the most part positive.
After fourteen years as the world's largest cell phone company, Nokia fell from grace during the first quarter of last year, losing the top spot to Samsung. Since then the company has fallen out of the top five all-together. Today's news does not exactly mean that Nokia is back on top of the game, but is definitely a positive indicator for both Nokia and Microsoft.
Disclaimer: The author of this article has a long position in Microsoft.
Michael Fowlkes is a financial writer who has been with the Fresh Brewed Media family since 2004. Over the course of his tenure with Fresh Brewed Media, he has worn many hats, including portfolio manager, options analyst, and writer. Michael received his undergraduate degree from Virginia Tech in Accounting and got his start in finance working as a stock trader for six years at Chase Investment Counsel in Charlottesville, Va. His articles typically cover big-picture events and forecasting what impact they will have on the stock market. In addition to writing for Fresh Brewed Media, Michael also wrote for AOL's BloggingStocks for three years, focusing most of his attention on the energy and technology sectors. Follow him on Twitter at @MFatMICenter.