Nokia turns to fourth quarter profit buoyed by strong growth after sale


AP

HELSINKI, Finland — After selling its ailing handset unit, Nokia has turned a fourth-quarter net profit of 443 million euros (US$502 million) with sales increasing nearly 10 percent, partly buoyed by strong growth in North America.

The Finland-based company says revenue grew to 3.8 billion euros (US$4.3 billion) in the period. Last year, it reported a net loss of 26 million euros.

Nokia CEO Rajeev Suri noted excellent network profitability with strong growth in all operations after selling its devices and services to Microsoft last year.

��We see 2015 as a year of execution,�� Suri said Thursday, adding that the company will continue to cut costs and invest.

Nokia said it expects annual sales to grow in 2015 in all three remain sectors; networks, mapping services and technologies and patents.