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

More from Business

US unemployment rate dips to 9-year low

The US unemployment rate fell in November to 4.6 per cent, a nine-year low, the Bureau of Labour Statistics said...

Chinese firm building full-size Titanic replica for tourists

Construction has begun on the world's first full-size replica of the Titanic in China, a country that fell in love...

Erdogan calls on Turks to sell dollars and buy lira and gold

President Recep Tayyip Erdogan urged Turkish citizens on Friday to sell their dollars and buy gold and lira, as the...

EU agrees to let Germany introduce road toll, staving off legal feud

The European Commission has approved Germany's plan to introduce a road toll on its motorways, top transport...

Danish container shipping giant Maersk Line to buy German rival

Global shipping giant A/S Maersk Line of Denmark on Thursday announced plans to grow its business by buying German...