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January 27, 2010

Nokia Q4 net sales down 5.3% to €12bn

Mobile device shipments up 12% on year ago quarter

By CBR Staff Writer

Nokia has posted net sales of €12bn in the fourth quarter of 2009, down 5.3% compared to €12.67bn in the same period last year.

The company reported an operating profit of €1.14bn, an increase of 131.9% from the same quarter last year. However, its operating profit has dipped to €1.19bn, a decrease of 75.9% on a year to year basis.

For the quarter, the company reported an operating margin of 9.5%, a decrease of 4.3% from the same period a year ago. Its operating margin for the fiscal 2009 dipped to 2.9% from 9.8% in fiscal 2008.

The handset maker shipped 126.9m mobile devices, up 12% year on year and up 17% sequentially. The net sales of its devices and services group in fiscal 2009 was down 43% to €3.3bn compared to the fiscal year 2008.

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Olli-pekka kallasvuo, CEO of Nokia, said: We grew our market share in smartphones in the fourth quarter, driven by the successful launch of new touch and QWERTY models. Our performance in smartphones, combined with continuing success in the emerging markets, helped us increase sales in our Devices & Services unit, both quarter-on-quarter and year-on-year. Our solid results also owe a good deal to world class supply chain management and impressive sales execution.

Our focus remains firmly on execution, especially around user experience. Here I want to highlight our move to shake up the navigation market with free walk and drive navigation on our smartphones, a good example of how we are leveraging our assets to bring real benefits to consumers.

Nokia expects devices and services net sales to be between €6.5bn and 7bn in the first quarter 2010, and expects its non-IFRS operating margin in devices and services in the first quarter 2010 to be negatively impacted by seasonality and to be at the lower end of the range of its full year 2010 target, which continues to be 12% to 14%.

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