Nokia's profitability grows in 2014

Nokia generated remarkable net sales and operating profit last year, the Finnish mobile technology company announced in its interim report released on Thursday.

According to the report, Nokia's net sales stood at 3.8 billion euros (4.3 billion U.S. dollars) in the fourth quarter of 2014, 14 percent higher than the previous quarter.

Its operating profit was 524 million euros, rising by 28 percent compared with the same period of 2013 and by 15 percent with the previous quarter.

Nokia Networks, a pillar of Nokia after the sale of its phone business to Microsoft, achieved growth in its operating profit by 35 percent from 349 million euros in the fourth quarter of 2013 to 470 million euros at the end of 2014.

Nokia said the performance of HERE and Technologies, its two other major sections, also made progress in the fourth quarter of 2014.

"2014 was a time of significant change for Nokia and we ended the year in a renewed position of strength," commented Rajeev Suri, Nokia's president and CEO.

In the future, Suvi said the company "will not shy away from investing where we need to invest," and will combine the investment with disciplined cost control.

Nokia used to be a dominator in global mobile industry. After the sale of its phone business to Microsoft, Nokia's operation divisions mainly include Nokia Networks, HERE and Nokia Technologies.