German engineering conglomerate Siemens today said its net loss was at euro 1.06 billion (about $1.5 billion) in the fourth quarter of this year.

Siemens said, it posted a net loss of euro 1.06 billion in the fourth quarter of fiscal 2008-09, primarily due to a non-cash loss of euro 1.96 billion from the group's Nokia Siemens Network unit.

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Nokia Siemens, is a 50-50 joint venture of Finnish telecom equipment maker Nokia and Siemens AG.

The company said revenue at euro 19.71 billion was down 9 per cent in the fourth quarter this year compared to the prior-year quarter.

For fiscal 2009, total profit rose to euro 7.46 billion, and income from continuing operations increased to euro 2.45 billion.

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