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Devaluation of euro helps Nokia performance: analyst

Xinhua, July 30, 2015 Adjust font size:

Nokia achieved an increased turnover and made a remarkable profit during the second quarter of 2015, the Finnish network technologies company said on Thursday.

Compared with the same period in 2014, the 2015 April-June turnover stood at 3.2 billion euros, which was an increase of 9 percent. The profit was now 352 million euros, whereas in 2014 it had been negative.

The decline in the value of euro contributed to the improved performance. The Q2 announcement gave no further detail on the likely sale of the map service Here.

Mikael Rautanen, an analyst of Nokia from the analysis firm Inderes, told Finnish national radio Yle that the increase in the turnover could be attributed to changes in the exchange rates that were advantageous to Nokia.

He said the good profit result showed a recovery in the core business of Nokia, the network services.

Rautanen said the market situation was not easy, but Nokia was able to improve its profitability more than its main competitor Ericsson.

Rautanen believed that in the network business the importance of programming increases. "In the future the programmes that administer the networks bring the money, not that much the sales of hardware," he said. Enditem