Follow

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use
Account
Techi.com Techi.com

Selling its mobile division was apparently really good for Nokia

Judging from these most recent earnings reports, selling its mobile division to Microsoft may have been one of the best choices that Nokia has made in years. The division was already shrinking and the money that the company gained from the sale was invested into much stronger divisions that have already started to pump out more cash than ever. 

Nokia’s best decision might have been selling its mobile division to Microsoft for £5 billion, removing the sinking division and giving the Finnish company enough capital to re-invest in networking and mapping technologies. The results are already noticeable; Nokia reported £2.84 billion in revenue and £331 million net profit in the fourth quarter, compared to £2.60 billion in revenue and £17 million in net loss last year. Networking sales increased by 10 percent since last quarter, partly due to strong interest in North America. Nokia also managed to maintain a strong portfolio of patent sales throughout 2014. CEO Rajeev Suri was pleased with the results and bringing Nokia back to profitability, after removing the loss leader Nokia.

Add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use