Nokia reports fourth-quarter net profit of 563 million dollars

Finnish telecommunications equipment maker Nokia on Thursday reported a 54-per-cent rise in fourth-quarter net profit.

Net profit was 499 million euros (563 million dollars) for continuing operations, compared to 325 million euros in the same quarter in 2014.

Net sales in the quarter were 3.6 billion euros, up 3 per cent year-on-year.

Nokia was the world's leading mobile phone maker until smartphones from Apple and companies using Google's Android operating system overtook it.

Last month, Nokia completed a merger with Alcatel-Lucent of France, as part of the Finnish company's move to focus on providing broadband infrastructure software and services after it sold its loss-making handset business in 2014 to US software giant Microsoft. 

Nokia said, however, that slowing demand in China and other markets for 4G and wireless broadband was expected to affect its mainstay division, Networks.

"The first quarter, in particular, looks quite challenging," chief executive Rajeev Suri said, adding Nokia planned to keep an eye on costs.

Last update: Thu, 11/02/2016 - 11:34

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