Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Nokia on Thursday published a strong set of fourth quarter results driven by LTE network deployments at major North American customers.
The Finnish kit maker’s revenue grew 9% on-year to €3.8 billion in the three months to 31 December, while non-IFRS operating profit grew 28% to €524 million. Profit attributable to equity holders came in at €443 million, compared to an €18 million loss in Q4 2013.
“The power of the new Nokia could be seen in our fourth quarter results. All of our businesses delivered strong year-on-year net sales growth,” said Nokia CEO Rajeev Suri, in a statement.
Its closely-watched Networks division, which accounts for the vast majority of Nokia’s revenue, generated fourth quarter net sales of €3.4 billion, an increase of 8% on last year. Its operating profit grew 35% to €470 million.
The strong performance was driven by North America, where Networks revenue increased 95% on-year to €514 million, which Nokia attributed to “LTE network deployments at major customers.” Original post at Total Telecom