Telecom vendor Nokia Siemens Networks (NSN) recorded revenues of euro 12.57 billion for the full year 2009 at a drop of 18% when compared to euro 15.31 billion registered last year.

However in a big relief to the company the year 2009 saw financial fortunes of the company taking a positive traction with operating net standing at euro1.67 billion at the end of the year as compared to operating loss of euro 301 million in 2008.

For the quarter ended December 31, 2009 the company managed revenues of euro 3.6 billion as compared to euro 4.34 billion posted last year. Operating profit for the quarter were at euro 17 million as compared to operating loss of euro 179 million last year.

The company’s profits were mainly achieved by cost saving measures rather than actual business gains.

The company says that it is confident of growing faster in the new year as compared to its competitors with focus on market share. A section of the industry feels that by focusing on market share the company is indicating that it will adopt competitive price measures to fend off competition from Chinese vendors particularly Huawei Technologies.