Nokia Achieved Net Sales EUR 21.9 Billion in 2020

Updated:2021/2/5 21:47

Nokia recently released its financial reports for Q4 and full-year 2020. According to the reports, Nokia’s net sales in Q4 2020 was EUR 6.568 billion, down 5% year-on-year; the net sales for full-year 2020 was EUR 21.9 billion, down 6% year-on-year.

Nokia said that the decrease in operating income in 2020 was partly due to the declines in network deployment and planning services, which were partially offset by growth in radio access products though. In addition, mobile access gross margin increased in Q4, primarily driven by improved 5G gross margin, as sales growth in 5G equipment also offset the impact of declines in some conventional operations.

Pekka Lundmark, President and CEO of Nokia emphasized that completing turnaround in mobile networks remains Nokia’s top priority in 2021. “…requires us to make further 5G R&D investments in 2021, meaning we will sacrifice some short-term margin to ensure leadership in 5G.”

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