Nokia beats Q4 estimates

Finland's Nokia on Thursday reported stronger-than-expected quarterly profits for its core network equipment business on the back of network rollouts for faster 4G mobile services in China and North America.

Nokia, which ranks third in the global network gear market, said the unit's core operating profit rose to 470 million euros ($530 million) in the fourth quarter, or 14 percent of sales, from 397 million euros in the previous quarter.

Nokia last year sold its former flagship phone business to Microsoft, leaving it with the network equipment unit, navigation technology business and a smartphone patent portfolio.