Nokia has reported financial results for the first quarter of 2015. The company has reported net sales of Euro 3.2 billion for the first quarter of 2015 as compared to net sales of Euro 2.7 billion in the corresponding quarter a year ago.

Further, for the quarter under review, core operating profit at Nokia’s network unit witnessed a decline of 61 per cent and stood at Euro 85 million.

Following are the key highlights of Nokia’s first quarter results for different units -

Nokia Networks

15 per cent year-on-year (y-o-y) net sales growth driven by units’ encouraging performance in four out of the six operating regions of the company. Meanwhile, non-international financial reporting standards (IFRS) operating margin declining to 3.2 per cent from 9.3 per cent

21 per cent y-o-y growth in global services net sales, primarily driven by strong growth in the network implementation business line. About 10 per cent y-o-y growth in mobile broadband net sales, primarily driven by overall radio technologies, particularly long term evolution (LTE)

61 per cent y-o-y decline in non-IFRS operating profit primarily driven by lower software sales, lower non-IFRS gross profit in the systems integration business line, the short-term impact of strategic entry deals, higher non-IFRS operating expenses due to foreign exchange impacts and increased investments in LTE, 5G and cloud core, and more challenging market conditions

HERE

25 y-o-y growth in net sales, with 29 yoy increase in sales of new vehicle licenses for embedded navigation systems

90 per cent yoy growth in non-IFRS operating profit, with non-IFRS operating margin expanding to 7.3 per cent from 4.8 per cent

Nokia Technologies

103 per cent y-o-y growth in net sales and 124 per cent growth in non-IFRS operating profit, primarily due to non-recurring adjustments to accrued net sales from existing agreements, revenue share related to previously divested intellectual property rights, and intellectual property rights divested in the first quarter 2015. In addition, net sales and non-IFRS operating profit benefitted from higher intellectual property licensing income from existing licensees