HELSINKI (dpa) – Finnish telecommunications company Nokia on Thursday reported a third-quarter net profit, reversing a loss for the corresponding business period a year ago.
The net profit of 747 million euros (942 million dollars), compared with a net loss of 91 million euros in the same quarter in 2013. Tax benefits contributed to the quarterly profit.
Net sales rose 13 per cent year-on-year to 3.3 billion euros, boosted by mobile network rollouts in North America and China.
Having sold its ailing handset business to US software giant Microsoft, Nokia now comprises the mainstay network supply business NSN, the mapping service unit HERE, and Nokia Technologies.
The company said it recorded a writedown of 1.2 billion euros for HERE.
In a related development, Nokia named Sean Fernback as head of HERE.
Fernback succeeds Michael Halblherr who left in August.
Nokia was the world’s leading mobile phone maker until smartphones from Apple as well as companies using Google’s Android operating system overtook it.