BBC News
Germany's Siemens has reported a fall in annual profits and says that the outlook for 2010 "remains challenging"Earnings were hit by losses from its struggling network joint venture with Nokia. The unit cost the firm 1.6bn euros ($2.4bn; £1.45bn) in write-downs.
Siemens' full-year net profit tumbled 58% to 2.5bn euros. However, last year's earnings had been boosted by a one-off sale.
Siemens also said that sales and profit would fall next year.
Siemens chief executive Peter Loescher said: "To ensure the sustainable viability of businesses that have been particularly affected by the crisis we are continuing to rigorously implement all necessary measures."
The company - which makes trains, medical scanners and power generators with task management software - has been hit by the downturn with less demand for industrial goods.
On Wednesday, the company came to an agreement with six former directors over a bribery affair that rocked the firm in 2006.
The firm wants to draw a line under the affair, but two former executives have yet to settle.
The firm wants to draw a line under the affair, but two former executives have yet to settle.
