- Q4 NSN sales -22% to €3.1B ($4.2B), dragged down by asset sales. Adjusted operating profit fell to €349M from €576M a year earlier.
- Expects NSN operating margins of 1-9% in Q1 vs forecast of 7.6% by Nordea analyst Sami Sarkamies and 11.2% in Q4. FY profit margin will be "toward the higher end" of a 5-10% profit range.
- Ends the quarter with €9B in gross cash.
- Sales at the devices business, which is being sold to Microsoft (MSFT), are €2.63B ($3.56B), -29% on year and -4.5% on quarter. "Strong momentum of competing smartphone platforms" and a difficult transition to Lumia from Symbian phones contributed to falling smartphone sales.
- Nokia (NOK) shares -2.3%. (PR)
at CNBC.com (Nov 19, 2014)