Nokia shares up on profits news

<p>Shares in Nokia have risen today.</p>

The share price of Nokia has risen today (October 30th) after the company revealed its latest financial results.

Operating profit at the firm's telecoms solutions and networks was down by 33 per cent in the third quarter to 218 million euros (£186.6 million), it announced.

The company forecasts that despite this, its profit margin will rise sharply next quarter to 12 per cent from 8.4 per cent, which boosted the share price of the firm.

Sales of its flagship Lumia smartphones also provided a boost for the company over the course of the three-month period, with almost nine million units sold, a rise of 19 per cent.

However, the Lumia brand will be part of the Nokia smartphone department sale to Microsoft.

Following the announcement of the latest financial results, the share price of Nokia is up by 2.45 per cent in early trading today.

At 08:29 GMT, its stocks were up to 5.4790 on the Xetra index.

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