Ladies and Gentlemen,
Thank you for your letter of Friday, February 5th, we appreciated both its tone and content.
It is true that our fourth quarter results were an improvement, but it is important to place these, achieved in a seasonally strong quarter, in the context of 2009 as a whole, during which NSN suffered an 18% decline in revenues from 2008, and only managed a very small operating profit. In the long term this level of performance will not be sufficient to allow us to build a strong and sustainable company.
We remain cautiously optimistic for our future, and we showed through our Q4 performance results that the company as a whole is capable to achieve positively. Nevertheless our responsibility is global and we have to underline that the overall company setup is designed for consistently higher revenues than those achieved in 2009.
We understand your concern, but you all need to believe that NSN is a fair company and that we are moving forward respecting our values.
As you know we are currently discussing outsourcing possibilities. We understand that you are continually updated by the local management when news comes up. This potential outsourcing solution, if implemented, will be the best for all of us, for our future and for our competences. We can assure you that at the right time we will sit together and discuss as agreed on December 15th.
Best regards,
Marc Rouanne
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