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Nokia operating profits up by 66% to €454 million in Q4 2014

Nokia's operating profits increased by 66% year-on-year (y-o-y) to €454 million in Q4 2014  from €274 million in the same quarter last year. The company had reported an operating loss of €810 million in the third quarter of 2014. Nokia reported a net sales of €3.8 billion compared to €3.5 billion in the same quarter last year. Nokia recovered on strong performance from its network equipment and services business and HERE business. Earlier in April 2014, Nokia had sold its devices and services unit to Microsoft for $7.2 billion. The company now reports the devices business as discontinued operations which clocked in a profit of €117 million for the fourth quarter. Additionally, Nokia’s discontinued operations had net cash inflows of approximately €140 million related to the proceeds from the sale of Nokia's Devices & Services business to Microsoft. HERE - HERE announced an agreement with Baidu, the Chinese Internet search provider, to power its new desktop and mobile map services outside of China. - HERE made its Android beta app available for all compatible Android smartphones and made it available for download through Google Play. - It also extended its voice-guided navigation offering to 18 more countries and territories, bringing the total number of freely navigable countries to 118. - HERE achieved 15% year-on-year growth in net sales, from €255 million in Q4 2013 to €292 million in Q4 2014. In Q4 2014, HERE sold map data licenses for the embedded navigation systems of 3.9 million new vehicles, compared to…

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