Expects Devices & Services net sales to range between €6.8bn and €7.3bn in Q1 2011
Nokia has reported net sales of €12.7bn ($17.3bn) in the fourth quarter 2010, up 6% year-on-year and 23% sequentially compared with €12bn ($16.5bn) in the same quarter prior year.
The company has registered decrease in operating profit to €884m in the fourth quarter of 2010, as compared with €1.1bn in the same quarter last year.
According to the company, operating cash flow for the fourth quarter 2010 was €2.4bn, and cash generated from operations were €2.5bn.
In the devices and services area, the company has reported net sales of €8.5bn in the fourth quarter 2010, up by 4% on year-on-year basis and 18% sequentially.
For the fiscal year 2010, Nokia’s mobile device volume market share decreased to 32%, compared to 34% in 2009.
The company’s non-IFRS operating expenses in Devices & Services were approximately €5.6bn, compared to €5.8bn in 2009.
The Devices & Services non-IFRS operating margin decreased to 10.9% in 2010, compared to 12.5% in 2009.
Nokia CEO Stephen Elop said in Q4 the company delivered solid performance across all three of their businesses, and generated outstanding cash flow.
"Additionally, growth trends in the mobile devices market continue to be encouraging, yet, Nokia faces some significant challenges in our competitiveness and our execution," Elop said.
"In short, the industry changed, and now it’s time for Nokia to change faster."
The company expects Devices & Services net sales to be between €6.8bn and €7.3bn in the first quarter of fiscal 2011.