Rajeev Suri said he expected the start of 2016 to be particularly challenging as operators reassess capex plans in light of macroeconomic uncertainty.

The Nokia CEO made the remarks as he begins to assimilate Alcatel-Lucent and build on what he said was a solid set of financial results.

The vendor saw Q4 sales rise three percent year-on-year to €3.6 billion thanks to its Technologies division.

The tech arm, which accounts for less than a tenth of total revenues, saw sales grow 170 percent thanks to what Nokia described as “non-recurring adjustments from an existing agreement”.

Its principal networks division saw revenues decline five percent, which was particularly affected by falling sales at its Global Services portfolio.

Network sales were down seven percent in Europe and 12 percent in Asia-Pacific.

However, overall profit was up by more than half to €499 million.

The fourth quarter figures pushed full-year revenues up six percent to €12.5 billion.

Network sales were up by three percent, while revenues from its Technologies arm were up 77 percent.

However, profit was down 56 percent to €1.2 billion. The Finland-based company said this was primarily due to the absence of a €2.0 billion non-
cash tax benefit reported in tax expenses reported last year.

Suri described 2015 as “another year of dramatic transformation” but said work on integrating A-L had got off to “a strong start”.

He explained: “Teams are preparing joint bids, we are working closely with our customers to ensure we can make fast and effective decisions about overlapping areas of our portfolio, and we are on target to deliver on our previously announced synergy savings.”

But he warned the year would get off to a troubled start.

“The first quarter, in particular, looks quite challenging as customers assess their capex plans in light of increasing macro-economic uncertainty,” he said.

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