Nokia beats profit forecasts

Finland's Nokia on Thursday reported stronger-than-expected quarterly profits for its core network equipment business on the back of network roll-outs 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 euro 470 million ($530 million) in the fourth quarter (Oct-Dec), or 14 per cent of sales, from euro 397 million in the previous quarter. Analysts in a Reuters poll had on average expected a profit of euro 415 million and a margin of 12.4 per cent.