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Nokia returns to profit but drops dividend payment

Nokia, the struggling mobile phone maker, swung back into profit in the last three months of 2012.

But Nokia said the trading outlook was tough and that no dividend would be paid, the first time in 20 years that shareholders have missed out.

Pre-tax profit for the quarter was 375m euros (£316m), against a 974m-euro loss last year.

Nokia said it sold 15.9 million smartphones in the quarter, down from 19.6 million a year earlier.

Ben Wood is from market analysts CCS Insight.