HELSINKI (AP) - Telecommunications and wireless equipment maker Nokia Corp. says fourth-quarter profit grew more than 50 percent on a slight increase in sales, buoyed by income from licensing fees.

HELSINKI (AP) Telecommunications and wireless equipment maker Nokia Corp. says fourth-quarter profit grew more than 50 percent on a slight increase in sales, buoyed by income from licensing fees.

CEO Rajeev Suri, however, cautioned that its main networks sector in 2016 would see a slowdown in sales in some markets, especially China, with the current quarter being "quite challenging." He says the company would continue to pursue savings.

The Finnish company said Thursday that net profit in the period was 498 million euros ($560 million), up from 324 million euros a year earlier, while revenue grew 3 percent to 3.6 billion euros.

Nokia Technologies saw strong growth in sales and operating profit based on licensing growth, including a contribution from the arbitration award related to its licensing agreement with Samsung.