As we all know, Nokia had a high status and excellent market performance in the mobile phone industry before the popularization of smartphones. However, with the development of smartphones, Nokia which used to focus on ordinary cellphones has gradually lost its former market share. Having said that, even so, Nokia still has a good performance in the global market. On January 26, Nokia announced its financial results for the fourth quarter and full year 2022.
Nokia still growing: sales up 16% in 2022
The financial report shows that Nokia's fourth-quarter net sales were €7,449 billion, up 16% year-on-year, beating market expectations; net income was €3,152 billion, a year-on-year increase of 364%; earnings per share were 0,56 euro, compared to 0,12 euro in the same period of the previous year. For the full year 2022, Nokia's net sales will be 24,911 billion euros, a year-on-year increase of 12%; net income will be €4,259 billion, a year-on-year increase of 159%. Earnings per share are €0,75, compared to €0,29 in the same period of the previous year.
In addition, Nokia's mobile network business, network infrastructure business, and network technology business are all rising, while in other businesses, Nokia's revenue declined. It should be noted that due to the influence of many factors, Nokia is gradually targeting lower profit margin markets such as India. Hoping in this way to expand the market share of Nokia. At the same time, Nokia expects net sales in 2023 to be €24,9-26,5 billion, with a comparable operating margin of 11,5%-14%.
