Simply put, you can't change a company without changing its management - Andy Grove - Only the Paranoid Survive
FINNISH PHONE MAKER Nokia disclosed both its fourth quarter and full year financials for 2013 on Thursday, and things aren't looking too good for the company.
Nokia chose not to disclose sales of its Asha and Lumia devices in the report, but indicated that sales weren't too good last year.
The firm admitted that sales of mobile devices were down compared to 2012, and while Lumia sales saw a slight rise during the year, it was not enough to counter Nokia's falling Asha sales.
Nokia blamed the dip in sales on increased competition in the market, saying, "Our Mobile Phones net sales were affected by competitive industry dynamics, including intense smartphone competition at increasingly lower price points and intense competition at the low-end of our product portfolio.
"Our Smart Devices net sales were affected by competitive industry dynamics including the strong momentum of competing smartphone platforms, as well as our portfolio transition from Symbian products to Lumia products."
Nokia admitted that its devices business net sales were down 29 percent from €15m in 2012 to €10m in 2013. For the fourth quarter of 2013 devices sales were also down 29 percent, from €3.7m in 2012 to €2.6m in 2013.
Overall, Nokia reported reported net sales of €12.7bn for 2013, down 17 percent from 2012. Fourth quarter revenues painted a similar picture, with profits down 39 percent to €408m.
For the fourth quarter, Nokia revealed that, compared to the third quarter, net sales of feature phones were flat while sales of smartphones and tablets declined. The firm has yet to disclose any more detailed information.
It sounds like Microsoft might have its work cut out for it when it takes over Nokia's devices business this year.
Microsoft will report its fourth quarter financials later today at 8.30pm GMT. µ
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