2012 will be a frugal year for Nokia as it concedes that it will take a lot of time for it to turn a profit following its major transition from ailing Symbian phone hawk to Windows Phone partner.
The comments come from Nokia chairman Jorma Ollila, speaking after the company reported a loss of €1.4 billion in 2011 but remaining adamant that the company will ensure that Windows Phone becomes one of the top three mobile OSes and Nokia one of the top three manufacturers.
"For a significant part of the year the transition will be seen in the results," he told Finnish broadcaster YLE.
The best is yet to come
Nokia announced that it would be partnering with Microsoft in February 2011 and despite a year's worth of work, is yet to see the monetary fruits of the union.
"Nokia will make it into the three, it's completely obvious and the first signs are already there. None of the operating systems have taken off quickly. It will take time, as we have seen, and as was expected.
"When looking at the bigger picture, it shows that three operating systems will dominate in the near future and each of them will have one strong manufacturer, with Nokia having a very good chance to be one of the three," he concluded.
Poor financial results can easily give way to pessimism and doom-sayers, but we actually think Nokia's right about its brightening future – at the very least, the fire on that burning platform is out. Now it's just a reconstruction job.
Article continues below