Nokia says quarterly profit rose but cautions on outlook

HELSINKI (AP) — Nokia saw fourth quarter profit grow more than 50 percent to 498 million euros ($560 million) on a slight increase in sales, but the telecom networks company cautioned it would face some "market headwinds," especially in China.

Nokia said it booked a gain of $2.5 billion euros from the sale of its mapping services to leading auto companies, Audi, BMW and Daimler, completed in December and reported it as discontinued operations.

Networks, which accounts for 90 percent of total sales, grew 5 percent year-on-year to 3.2 billion euros in the quarter, while the technology unit, which controls the company's vast portfolio of patents, saw sales jump 170 percent in the quarter to 403 million euros.