Nokia Siemens Networks reported an operating loss of €142m in the first quarter of 2011, an improvement on the same period a year ago when it recorded a loss of €226m, but down on the €1m operating profit made in Q4 2010.
The reported operating margin was -4.5% in Q1 2011, compared with -8.3% in the first quarter of 2010 and 0.0% in the fourth quarter of 2010.
Global net sales rose 17% year on year to €3.1bn in Q1 2011 (€2.7bn in Q1 2010), but were down 20% on the last quarter of 2010 – a move attributed to a seasonally weaker infrastructure market. Services contributed €1.6 billion in the first quarter of 2011, compared with €1.3bn in Q1 2010 and €1.8bn in Q4 2010.
While Europe contributed the largest net sales at €1bn, it was the only region to show a year on year decline of -6%. Asia-Pacific was the fastest growing region at €988m, a rise of 56% year on year. Latin America grew by 30% to €384m, North America by 10% to €169m, Greater China by 17% to €322m and Middle East and Africa by 3% to €307m.