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Nokia (NOK -7.3%) remains lower following its Q4 report. The company said it received a fresh...

Nokia (NOK -7.3%) remains lower following its Q4 report. The company said it received a fresh $250M payment from Microsoft (MSFT), but noted its agreement with Redmond requires "minimum software royalty commitments," and that these commitments will nearly equal Microsoft's payments over time. Devices & Services saw a 31% Y/Y drop in opex, and its gross margin fell only 190 bps in spite of a 36% drop in sales. North American sales +270% to €196M, but Chinese sales -79% to €213M. The 808 PureView will be the last Symbian phone. (Q1 guidance)
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