Thursday, July 19, 2012

NSN Sees Improvements in Q2

Nokia Siemens Networks returned to non-IFRS operating profitability in Q2 as the company saw financial improvement resulting from its restructuring program.

In Q2 2012, net sales of Nokia Siemens Networks decreased 8% to EUR 3,343 million. Gross profit in Nokia Siemens Networks was EUR 833 million (gross profit EUR 967 million), representing a gross margin of 24.9% (26.6%).

The company said the decline in net sales in the second quarter 2012 was primarily due to its strategy to focus on mobile broadband, customer experience management and services. Business areas not consistent with the new strategy are in the process of being divested or managed for value.

The number of employees has been reduced by about 10,000 compared to the end of 2011. 

See also