Nokia 2012 Annual Report Download - page 121

Profit Attributable to Equity Holders of the Parent and Earnings per Share
Loss attributable to equity holders of the parent in 2011 totaled EUR 1 164 million, compared with profit
of EUR 1 850 million in 2010. Earnings per share in 2011 decreased to EUR (0.31) (basic) and
EUR (0.31) (diluted), compared with EUR 0.50 (basic) and EUR 0.50 (diluted) in 2010.
Results by Segments
Devices & Services
The following table sets forth selective line items and the percentage of net sales that they represent
for Devices & Services for the fiscal years 2011 and 2010.
Year Ended
December 31,
2011
Percentage of
Net Sales
Year Ended
December 31,
2010
Percentage of
Net Sales
Percentage
Increase/
(Decrease)
(EUR millions, except percentage data)
Net sales(1) .................. 23943 100.0% 29 134 100.0% (18)%
Cost of sales ................. (17303) (72.3)% (20 412) (70.1)% (15)%
Gross profit .................. 6640 27.7% 8 722 29.9% (24)%
Research and development
expenses .................. (2441) (10.2)% (2 694) (9.2)% (9)%
Selling and marketing
expenses .................. (2180) (9.1)% (2 270) (7.8)% (4)%
Administrative and general
expenses .................. (362) (1.5)% (388) (1.3)% (7)%
Other operating income and
expenses .................. (773) (3.2)% 170 0.6%
Operating profit ............... 884 3.7% 3 540 12.2% (75)%
(1) Includes IPR income recognized in Devices & Services Other net sales.
Net Sales
The following table sets forth our Devices & Services net sales and year-on-year growth rate by
geographic area for the fiscal years 2011 and 2010. The IPR income referred to in the paragraph
below has been allocated to the geographic areas contained in this chart.
Year Ended
December 31,
2011
Change
2010 to 2011
Year Ended
December 31,
2010
(EUR millions, except percentage data)
Europe .......................... 7064 (27)% 9 736
Middle East & Africa ............... 4098 1% 4046
Greater China .................... 5063 (18)% 6 167
Asia-Pacific ...................... 4896 (19)% 6 014
North America .................... 354 (61)% 901
Latin America ..................... 2468 9% 2270
Total ............................ 23943 (18)% 29 134
The 18% year-on-year decline in Devices & Services net sales in 2011 resulted from lower volumes
and ASPs in both Smart Devices and Mobile Phones discussed below, partially offset by higher IPR
income discussed below.
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