Nokia profits up 66%, N1 tablet response ‘remarkably favourable’

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.

Related: Nokia N1 vs Nexus 9: How do the Android tablets compare?

The firm’s new Nokia N1 tablet also got a special mention, with Nokia keen to talk up the success of its first Android tablet, and first mobile device since the Microsoft sale.

“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.”