Finnish telecoms equipment and 5G player Nokia announced on Thursday a fall in net income for 2020 despite a strong fourth quarter, and warned of “meaningful headwinds” this year. “We saw healthy gross margin and operating margin performance for both (the fourth quarter) and full year 2020,” thanks to a renewed focus on North America and ongoing research and development (R&D) efforts, chief executive Pekka Lundmark said in a statement. Full-year operating income rose by 5.5 per cent to €2.1 billion, and Nokia’s gross margin increased by 2.5 percentage points to 39 per cent as the firm fought for its share of the tough 5G market.