Nokia CEO Rajeev Suri said he was cautiously optimistic about the year ahead as he unveiled improving Q1 financials.

The Finland-based vendor saw net losses go down to €435 million in the first quarter, versus €712 million in the same period last year.

Sales declined four percent to €5.4 billion, mainly due to falls in IP/optical and fixed-line networks.

Mobile network and applications and analytics revenues were flat, meaning the entire Networks division was down six percent.

Nokia’s Technologies division saw sales grow by a quarter, to €247 million, thanks to higher patent and brand licensing income as well as its acquisition of Withings.

The results represented an improvement on 2016, when the company saw sales decline 10 percent.

Nokia continues to look to close the acquisition of Comptel as it looks to shore up its software strategy and relieve its reliance on telcos.

It is also pushing through a new organisational structure, announced last month in the wake of the departure of Mobile Networks head Samih Elhage.

Suri said: “Nokia's first quarter 2017 results demonstrated our improving business momentum, even if some challenges remain.

“We slowed the rate of topline decline and generated healthy orders in what is typically a seasonally weak quarter for us.

“We also continued to see expansion of cross-selling across our full portfolio, delivered excellent gross margins and improved group-level profitability.”

Read more: Nokia CEO wants new salespeople as it signs Xiaomi deal in non-telco push

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