Six months after the network gear maker Nokia sold its struggling mobile phone business to Microsoft for $7.1 billion (5.6 billion euros), it delivered higher than expected third quarter profits of 457 million euros.
The Finnish company revealed that it has strong earnings from its network gear units and changed its outlook for the business after major network rollouts in Asia and North America.
There is an estimated further growth and profit for Nokia with many planned network deployments on their way to some parts of Asia all throughout the year.
After the positive third quarter profits, Nokia has changed its outlook for the entire year and expects that the company will be able to stay lucrative with a projected profits margin of 11% instead of what it has earlier forecasted at 5-10%.
Currently, Nokia sits on the third place in the global network-equipment market following Huawei Technologies and Sony Ericsson.
Since the declaration of Microsoft that it would acquire Nokia back in September of 2013, the Finnish company’s stock went up by over 130%. It may have failed to recover because of its late start in offering smartphones to the market but it sure was able to bounce back after it was acquired by Microsoft.