The company said operating expenses in the last quarter of 2012 had been lower than expected and that its devices and services sector saw operating margins of "between break even and positive 2 percent." Elsewhere, its networks joint venture with Germany's Siemens AG — Nokia Siemens Networks — had "record underlying profits and a third consecutive quarter of underlying profitability," with operating margins expected to be 13-15 percent.
However, the company warned that seasonality and competition would have a negative impact on the handset division's first-quarter profitability in comparison to the last three months of 2012. Nokia is due to report fourth-quarter earnings on Jan. 24.
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