Nokia Networks Q3 revenue up 13% to EUR 2.9 bn fuelled by LTE

Telecom network vendor Nokia Networks today said it Q3 2014 revenue rose 13 percent to EUR 2.9 billion supported by new LTE network deployments in North America and Greater China.

Nokia Networks said its sales improved in four of six regions. The company did not share additional details.

Sale of Nokia Networks mobile broadband, its main business, grew sharply.

Nokia Networks global services delivered its sixth consecutive quarter of double digit profitability.

NSN CEO Rajeev Suri on growth plans

Rajeev Suri, president and CEO, Nokia said: “Nokia’s third quarter results demonstrate our strong position in a world where technology is undergoing significant change.”

“Networks benefited from some unique developments in the quarter, with a business mix weighted towards Mobile Broadband and regional mix that included strong gains in North America,” Suri added.

Nokia Networks recorded 83 percent increase in operating profit to EUR 397 million in Q3 2014.

HERE posted 12 percent growth in net sales to EUR 236 million in Q3 2014.

HERE sold map data licenses for the embedded navigation systems of 3.2 million new vehicles globally in Q3 2014 compared to 2.6 million vehicles in Q3 2013.

HERE delivered a double digit sales increase in the quarter. “We are sharpening HERE’s strategy in order to better balance growth and profitability while ensuring relentless focus on priority segments such as automotive,” Suri said.

Nokia Technologies posted 9 percent growth in net sales to EUR 152 million in Q3 2014, primarily due to Microsoft becoming a more significant intellectual property licensee.

Baburajan K