Nokia Reports decline in Annual Revenue

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

 

Nokia has reported decline in annual revenue to 2,227 million euros in 2012 from Indian business for the second consecutive year as compared to the revenue earned 2,952 million euros in 2010 regardless of increasing competition and currency fluctuation. Nokia has posted 23 per cent dip in revenue from 2,923 million euros at the end of 2011. 

Spokesperson from Nokia said, "The year 2012 was one of transition for Nokia. While the first half of the year was challenging, our execution against a focused business strategy started to translate into financial results in the final three months of the year.”

The spokesperson further added that sales from India captured company's cumulative revenue across all businesses including devices, infrastructure (Nokia Siemens Networks) and Here (formerly Location and Commerce). 

In addition to this the report stated, "We are also seeing the emergence of various local mobile device manufacturers that are strong in a certain country or region, especially in emerging markets. Success of such competitors could adversely affect sales of our mobile devices in various countries such as China, Indonesia and India......See More