Nokia was the number 1 mobile phone manufacturer once, and then things went south for this Finnish company. They had a lot of mistakes in their business model, Symbian was their very own OS but they didn't push it forward as they should, then came MeeGo (too late) and then the unfortunate exclusivity agreement with Microsoft. Long story short, Nokia had to sell the Devices and Services business to Microsoft and was left in ruins, more or less. They managed to get up from the ground and come up with a plan, not only did the release the N1 Android-powered tablet but that tablet is doing really well in China at the moment and is going to be announced in Europe next month.
That being said, Nokia has announced their financial results for 2014. The company has reported an operating profits of $512 million for Q4 of 2014, which is a 66% gain from the $309 million they reported in the same period a year before. Nokia's revenue for Q4 2014 rose to $4.3 billion from the $3.9 billion they reported a year before. As far as the yearly results go, the company's revenue is $14.4 billion and operating profits dropped from $585 million from 2013 to $192 million in 2014. As far as the fourth quarter goes, the margins are definitely up, a full percentage point year-over-year to 43.5%, and for the full year, the profit margin rose from 42.1% to 44.3%, according to Nokia.
Nokia HERE maps sales rise as well, 15% year-over-year for the fourth quarter 2014, to $330 billion, which is great. Nokia has launched their mapping service on Android as well, and considering how solid their service / app is, that's a great thing. Anyhow, this is what Rajeev Suri, CEO of Nokia 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. Profitability was excellent in Nokia Networks, and we were particularly pleased with our net sales growth in North America and core networks. HERE continued its momentum in the automotive segment, and the early reception to the Nokia N1 tablet has been remarkably favorable, showing the ongoing power of the Nokia brand and the long-term potential of our brand licensing business.Looking ahead, while 2014 was a year of reinvention, we see 2015 as a year of execution."