Nokia has revealed a 66 per cent increase in operating profits for 2014 during its latest earnings call.
The Finnish firm managed to bring in $512 million for Q4 last year, which is a big jump up from the $309 million seen in the same quarter in 2013.
Revenue was also on the rise, measuring up at $4.3 billion for the quarter, compared to a slightly lower $3.9 billion the year before.
Nokia’s revenue for the entire year was $14.4 billion, although operating profits across the 12-month period were down by around $400 million.
It’s worth noting that 2014 was a pretty turbulent year for Nokia, largely due to the sale of its Devices and Services division to Microsoft.
Rajeev Suri, Nokia’s CEO, said: “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.”
HERE maps managed a 15 per cent year-over-year net sales increase in the fourth quarter, resulting in a $330 million cash flow.
“The early reception to the Nokia N1 tablet has been remarkably favourable, showing the ongoing power of the Nokia brand and the long-term potential of our brand licensing business.”
Suri added: “Looking ahead, while 2014 was a year of reinvention, we see 2015 as a year of execution.”