Nokia has reported its sales for the fourth quarter are down 18 per cent compared to the same time in 2012, highlighting its financial position just months before the handover of its mobile division to Microsoft.
The company also reported its yearly sales are down 17 per cent compared to last year.
HumanIPO reported last year the company was selling its mobile division to Microsoft, describing it as “the best path forward for Nokia and its shareholders”.
The company has also seen sales fall in Africa, with HumanIPO reporting last week the company’s sales declined by 20 per cent in the region.
The drop in sales is reportedly due to the Kenyan Government’s decision to impose 16 per cent tax to devices sold in the country.
“We have witnessed a drop of our sales in handsets by 20 per cent between September and December, coming shortly after the introduction of VAT in a period where imports of grey phones has increased,” said Nokia East Africa general manager Bruce Howes.