Nokia comes back from the dead

Former rubber boot maker Nokia is likely to report that it has come back from the dead.

The cocaine nose jobs of Wall Street are expecting to hear some good news from Nokia when it announces its results in the first quarter any day now.

This is all thanks to rising Lumia smartphone sales and a turnaround at its equipment venture Nokia Siemens Networks (NSN).

Nokia has recently launched the Lumia handsets in China where consumers have been increasingly turning from regular phones to smartphones.

Reuters expects quarterly shipments of 5.6 million Lumia handsets, up from 4.4 million in the fourth quarter.

The company’s underlying loss, which excludes special items, is shrinking.

This is expected to take some pressure off CEO Stephen Elop, who was hired in 2010 to lead a turnaround at Nokia.

He made a controversial decision to switch to the untried Windows software.

Some cynics say that it’s too early to sound the all-clear. Nokia’s cash position has fallen to 3.7 billion from 4.4 billion three months earlier.

Investors also point out that the smartphone industry’s top two players, Samsung and Apple, show little signs of ceding market share.

But analysts on average expect Lumia shipments to pick up to over seven million units next quarter. If it does not increase then the doubts about Nokia’s future will return.