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Nokia global quarterly sales dip 21%

Finnish firm Nokia on Thursday posted 21 per cent decline in topline at 3.47 billion euros as sales dipped across network equipment and location services in the October-December quarter of 2013.

This is against net sales of 4.41 billion euros in the same period last year. This is the first quarterly financial report after Nokia announced sale of its handset business to software giant Microsoft in September last year for 5.44 billion euros.

The transaction is expected to close in the first quarter of 2014. Nokia's operating profit declined 17 per cent to 274 million euros in the reported quarter from 329 million euros in Q4 2012. For 2013 (full year), Nokia saw net sales falling 17 per cent to 12.7 billion euros, while operating profit stood at 519 million. Nokia Solutions and Networks, the telecom equipment arm, saw revenues declining 22 per cent to 3.1 billion euros in the said quarter from 3.98 billion in Q4 2012.

‘The fourth quarter of 2013 was a watershed moment in Nokia's history... we are diligently working towards defining Nokia's future direction.

‘I am pleased with the progress we have made thus far in our strategy evaluation and excited by the opportunities ahead for each of our three continuing businesses: NSN, HERE and Advanced Technologies,’ Nokia Chairman and interim CEO Risto Siilasmaa said.
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