Nokia Networks managed to increase sales even as North America slows investment in its networks.
In fact, Nokia said an 8 percent increase in net sales from $3.5 billion in the fourth quarter of 2013 to $3.84 billion in the fourth quarter of 2014 was primarily due to strong performance in North America.
Rajeev Suri, Nokia president and CEO, said in a statement that 2014 was time of significant change for his company.
“The power of the new Nokia could be seen in our fourth quarter results,” Suri said.
After shedding its handset division to Microsoft, Nokia Networks managed a non-IFRS operating profit of $531 million, or 14 percent of net sales, compared to $394 million, or 11.2 percent of net sales, in Q4 2013.
Nokia’s Mobile Broadband division saw a 13 perecent annual increase in net sales, which the company said was driven by strong growth in overall core networking technologies and modest growth in overall radio technologies.
Nokia said that strong annual growth in LTE was partially offset by a decline in mature radio technologies.
In the coming year, Nokia said it expects net sales to grow on a annual basis for the full year 2015 and for non-IFRS operating margin for the full year 2015 to be in-line with Nokia Networks’ long-term non-IFRS operating margin range of 8 percent to 11 percent.
Shares of Nokia were down slight to $7.84 in early trading on the New York Stock Exchange.
