Nokia reported a 29% year-on-year fall in revenues in its mobile devices division, which it is selling to Microsoft, in the fourth quarter to 2.63 billion euros. Nokia said the fall was primarily due to "lower mobile phones net sales and, to a lesser extent, lower smart devices net sales. 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 also said sales in its networks division, NSN, fell 22% year-on-year in the fourth quarter, partly because of "divestments of businesses not consistent with its strategic focus, as well as the exiting of certain customer contracts and countries. Excluding these two factors, NSN net sales in the fourth quarter 2013 declined by approximately 15% primarily due to reduced wireless infrastructure deployment activity...Additionally, NSN net sales were negatively affected by foreign currency fluctuations." source: Nokia statement
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