Nokia reports a 66% gain in operating profit for Q4 2014

Nokia reports a 66% gain in operating profit for Q4 2014

Nokia said that 2014 was a year of reinvention for the company. Because of the sale of Nokia Devices and Services to Microsoft, the company had to change. Still, Nokia reported operating profits of $512 million for the fourth quarter of 2014. That was a 66% gain from the $309 million operating profit that Nokia reported for the fourth quarter of 2013. Revenue for the three month period rose to $4.3 billion from the $3.9 billion it reported last year.

For the whole year, revenue was flat at $14.4 billion. Operating profits dropped from $585 million for 2013 to $192 million last year. For the fourth quarter, margins were up a full percentage point year-over-year to 43.5%. For the full year, Nokia said that its profit margin rose from 42.1% to 44.3%.

HERE maps saw its net sales rise 15% year-over-year for the fourth quarter, to $330 million. HERE is now available for Android phones in the Google Play Store. Nokia Technology, the division that houses patents and IP saw year-over-year sales rise 23% in the fourth quarter as Microsoft became a licensee due to its purchase of Nokia Devices and Services.

"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. Profitability was excellent in Nokia Networks, and we were particularly pleased with our net sales growth in North America and core networks. HERE continued its momentum in the automotive segment, and the early reception to the Nokia N1 tablet has been remarkably favorable, showing the ongoing power of the Nokia brand and the long-term potential of our brand licensing business.Looking ahead, while 2014 was a year of reinvention, we see 2015 as a year of execution."-Rajeev Suri, CEO, Nokia Source