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FOURTH QUARTER 2010 HIGHLIGHTS Nokia net sales of EUR 12.7 billion in Q4 2010, up 6% year-on-year and 23% sequentially (flat and up 24% at constant currency).Devices & Services net sales of EUR 8.5 billion in Q4 2010, up 4% year-on-year and 18% sequentially (down 3% and up 19% at constant currency).Services net sales of EUR 201 million in Q4 2010, up 21% year-on-year and 26% sequentially; billings of EUR 352 million, up 57% year-on-year and 8% sequentially.Nokia total mobile device volumes of 123.7 million units in Q4 2010, down 3% year-on-year and up 12% sequentially.Nokia converged mobile device (smartphone and mobile computer) volumes of 28.3 million units in Q4 2010, up 36% year-on-year and 7% sequentially.Nokia mobile device ASP (including services revenue) of EUR 69 in Q4 2010, up from EUR 64 in Q4 2009 and EUR 65 in Q3 2010.Devices & Services gross margin of 29.2% in Q4 2010, down from 34.3% in Q4 2009 and up from 29.0% in Q3 2010.Devices & Services non-IFRS operating margin of 11.3% in Q4 2010, down from 15.4% in Q4 2009 and up from 10.5% in Q3 2010.NAVTEQ net sales of EUR 309 million in Q4 2010, up 37% year-on-year and 23% sequentially (up 33% and 27% at constant currency).Nokia Siemens Networks net sales of EUR 4.0 billion in Q4 2010, up 9% year-on-year and 35% sequentially (up 7% and 37% at constant currency).Nokia Siemens Networks non-IFRS operating margin of 3.7% in Q4 2010, down from 5.5% in Q4 2009 and up from -3.9% in Q3 2010.Nokia operating cash flow of EUR 2.4 billion and cash generated from operations of EUR 2.5 billion in Q4 2010.Total cash and other liquid assets of EUR 12.3 billion and net cash and other liquid assets of EUR 7.0 billion at the end of Q4 2010.Nokia taxes continued to be unfavorably impacted by Nokia Siemens Networks taxes as no tax benefits are recognized for certain Nokia Siemens Networks deferred tax items. In Q4 2010, this was more than offset by a favorable profit mix and certain current quarter benefits both in Devices & Services and in Nokia Siemens Networks taxes. If Nokia's estimated long-term tax rate of 26% had been applied, non-IFRS Nokia EPS would have been approximately 2.5 Euro cents lower in Q4 2010.Full press release.

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Posted: 2011-01-27 16:41:32
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