Nokia chairman and interim CEO Rista Siilasmaa has praised what he called a “watershed moment” in the company’s history, at the announcement of the Finnish communications giant’s Q4 and full year 2013 results.
Net sales for the year in what it called ‘continuing operations’ were €12.7 billion, down 17% on 2012.
Continuing operations consisted of three wings Nokia Solutions & Networks (NSN), Here (formerly Ovi Maps), and Advanced Tech, which suffered year-on-year declines of 18%, 17% and 1% respectively.
Figures for its handset business – listed as ‘discontinued operations’ – showed a device revenues fell 29% to €10.7 billion in 2013.
Nokia announced it would be selling its devices division to Microsoft earlier this year for €5.4 billion. No breakdown of mobile device sales was provided.
It was estimated overall restructuring costs would cost €1.95 billion.
“The strength of NSN’s underlying profitability highlights just how fundamentally different the company is today, compared with two years ago when it started its restructuring and transformation program,” said Siilasmaa (pictured).
“Today, we are more focused, more innovative and more disciplined. With these fundamental elements in place, we believe NSN is well positioned to deliver solid business performance for the year ahead. For Here, we see long-term transformational growth opportunities in the automotive market, as well as in other industries. Thus, we are planning to increase investment levels in 2014 to capture these exciting opportunities in the coming years.
“For Advanced Technologies, we are focused on continuing to invest in innovation, implementing our successful business strategy of licensing our industry leading intellectual property to companies interested in Nokia’s innovations, and are planning to add further value to our partners through technology licensing.”
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