Nokia Siemens Networks reported fourth-quarter sales down 4 percent from a year earlier to EUR 3.82 billion. Slower equipment sales offset growth in services and the contribution from Motorola's business. In its main market Europe, sales fell 6 percent to EUR 1.27 billion, while China dropped 14 percent to EUR 438 million and the rest of Asia declined 7 percent to EUR 909 million. Sales in the Americas were higher thanks to the Motorola takeover. A higher gross margin helped the adjusted operating result improve to 4.6 percent from 3.7 a year earlier. NSN reiterated its plans to cut operating expenses by EUR 1 billion by the end of 2013. The company said it will take significant restructuring charges in Q1 as part of plans to shed thousands of jobs, leading to operating losses in the first part of the year. NSN said the restructuring plans and difficult economic climate will mean "volatile" results this year, and as such it's not providing annual guidance. Over the longer term, it targets an adjusted operating margin of 5-10 percent.
