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Thursday, January 27, 2011

"It's time for Nokia to change faster" says CEO, after quarterly figures revealed

Nokia has published its Q4 2010 figures, which show net sales of 12.7 billion Euro (£10.9 billion). That’s up 6% year-on-year, although the rise is due to international currency rates.

The company shipped a total of 123.7 million mobile devices in Q4 2010, down 3% year-on-year. 28.3 million of these were smartphones and mobile computers; a product grouping that grew 36% year-on-year.

Overall, Nokia reckons its mobile device volume market share decreased to 32% in 2010, compared to 34% in 2009, in a market that saw mobile device volumes increase by 13% year-on-year.

Stephen Elop, Nokia CEO, said “In Q4 we delivered solid performance across all three of our 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. In short, the industry changed, and now it's time for Nokia to change faster.”

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