Nokia Beats Market Expectations, Gains Higher Profits in Q3

Earlier this year, Nokia parted with its loss-making mobile phone business to focus on its networking, mapping and solutions units. Under a new leadership, the move seems to be working out well for the company as it has continued to increase profits since the deal was closed in April.
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Nokia Beats Market Expectations, Gains Higher Profits in Q3
A picture taken on Oct. 21, 2010 shows the logo of Finland's mobile phone maker Nokia on the window of Nokia flagship store in Helsinki. (Markku Ulander/AFP/Getty Images;effects added by Epoch Times)
10/23/2014
Updated:
10/23/2014

Nokia has announced financial results for the third quarter, which have revealed higher than expected profits of 457 million euros.

Earlier this year, Nokia parted with its loss-making mobile phone business to focus on its networking, mapping and solutions units. Under a new leadership, the move seems to be working out well for the company as it has continued to increase profits since the deal was closed in April.

According to the Q3 2014 results, Nokia Solutions and Networks managed to increase its profit margin to 13.5% from last quarter’s 11.0%. With many more network deployments planned in parts of Asia throughout the year, there is scope for further growth and profits for the division.

Nokia Technologies has also shown a 9% YoY growth primarily due to IP licensing deals with Microsoft. The total operating profit has gone up 32% since the last quarter with 457 million euros, beating analyst expectations of 359 million euros.

Republished with permission from Neowin. Read the original.