Even though Nokia delivered a solid Q4 to end 2020, which was at the high-end of its Outlook range, the leading global comms tech supplier has admitted 2020 was a year of incredible change where personal resilience, as well as technology, has been tested like never before, and that a tough 2021 lies ahead.
For the quarter ended 31 December 2020, Nokia reported net sales of €6.568bn (£5.75bn), slipping back 5% compared with the same time in 2019, primarily due to mobile access, as declines in network deployment and planning services were partially offset by growth in radio access products.
Core networks technology revenue slipped back by two percentage points more to reach €5.04bn (£4.41bn) while software sales actually rose 5% on an annual basis to €864m (£756m), and Nokia Technologies revenues rose 2% to €382m (£334m). Q4 enterprise net sales were up 1% in reported and 5% in constant currency. Overall operating profit for the quarter was €1.09bn (£950m), a fall of 4% compared with Q4 2019.
For the full year, total sales amounted to €21.867bn (£19.13bn), down 6% annually, with core network sales slipping back 7% over the year to total €16.865bn (£14.75bn). Yearly software revenues also slipped