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Nokia has reported a dip of 9 percent year-over-year(YoY) in its net sales for the year 2011, compared to 2010.
The total revenue of the company for the year counted Euro 38.6 billion, compared to Euro 42.4 billion in the year 2010.
The smartphones sales of the Finnish giant dipped 27 percent, with the shipment of 77.3 million units, compared to 103.6 million in the year 2010.
The net sales of the company in the fourth quarter increased by 11percent, compared to the Q3 2011. The company sold 19.6 million smart devices in the fourth quarter, with an increase of 17 percent compared to the third quarter of the year.
The net sales of Nokia Siemens Networks for the fourth quarter too declined by 4 percent, compared to the year ago quarter, but has grown by 12 percent in the QoQ change vertical.
''Changing market conditions are putting increased pressure on Symbian. In certain markets, there has been an acceleration of the anticipated trend towards lower-priced smartphones with specifications that are different from Symbian's traditional strengths,'' said Stephen Elop, CEO, Nokia.
As a result of the changing market conditions, combined with our increased focus on Lumia, we now believe that we will sell fewer Symbian devices than we previously anticipated,'' said Stephen Elop, CEO, Nokia.
Europe stood first in contributing to the devices and services net sales generating 1.9 billion Euro for the company, while the APAC region contributed 1.2 billion Euro to the company's revenue.