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Nokia Q4 Boosted By North America

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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

Wahengbam Rorrkychand

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Website: http://www.blog.tonsetelecom.com

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