Nokia launched a record 40 products last year and intends to keep up that level of releases in 2004 as the market recovers.
The mobile phone market grew 15% in 2003 to 470 million handsets, Jorma Ollila, chairman and chief executive officer said, adding that the infrastructure market also showed signs of recovery.
The company willl focus on three areas; expanding mobile voice, driving consumers' use of multimedia and encouraging more business use of mobile applications.
Nokia has been restructured into four business divisions as of 1 January; Mobile Phones, Multimedia, Networks and Enterprise Solutions.
Nokia's total net sales for the year were €29.5bn, 1% less than in 2002. However, the drop in sales was partly because of the depreciation of the US dollar against the euro over the year; at constant currency rates, sales would have grown by 7%.
Nokia gained the number-one share in the US, and the number-one share in the GSM market in China.
Gillian Law writes for IDG News Service