Nokia has announced that its fourth-quarter net sales grew 11 per cent year-on-year while full-year net sales grew by six per cent.

Across its four groups in the final quarter of the year, the company saw the biggest rise in ‘Nokia Technologies’, with an 82 per cent rise in results.

Enterprise net sales grew 49 per cent year-on-year in the fourth quarter and 21 per cent across the year.

In the fourth quarter, Nokia’s other groups, ‘Network Infrastructure’, ‘Mobile Networks’, and ‘Cloud and Network Services’ increased by 14 per cent, three per cent, and five per cent respectively.

“Looking forward to 2023, while we are mindful of the uncertain economic outlook, demand remains robust,” said Pekka Lundmark, Nokia president and chief executive.

He continued: “We expect another year of growth, and we are targeting full year net sales of between €24.9 billion and €26.5 billion which implies between two per cent and eight per cent growth in constant currency.”

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