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Thursday, January 29, 2015

Nokia's network unit beats on N. America growth, (NASDAQ: ERIC)

Nokia reported higher than expected profits at its core Networks business on Thursday, on the back of strong sales in North America, but group profits took a knock from higher costs at its Technologies unit which handles its patents and develops new products.The Finnish company, which sold its former flagship phones business to Microsoft last year, also proposed a smaller annual dividend increase than many analysts predicted, resulting in its shares dropping 4.8 percent in Helsinki trade at 0906 GMT.The company's Networks unit, which ranks third in the global mobile telecoms equipment market after Ericsson and Huawei HWT.UL>, was previously a troubled joint venture with Germany's Siemens. The business has only turned around after years of divestments, job cuts and a sharpened focus on 4G mobile broadband.The unit's fourth-quarter operating profit rose to 470 million euros ($530 million) or 14 percent of sales, from 397 million euros in the previous quarter.

Telefonaktiebolaget LM Ericsson (Ericsson) is an information and communications technology (ICT) solutions provider. Shares of ERIC fell by 1.32% or $-0.16/share to $11.98. In the past year, the shares have traded as low as $11.20 and as high as $13.61. On average, 3352160 shares of ERIC exchange hands on a given day and today's volume is recorded at 6968155.