On his first results day since taking the reins of the Finnish networks giant in August, Pekka Lundmark vowed to beat rivals Ericsson and Huawei in the 5G market.
Despite a “disappointing” 7.0-per cent fall in sales, in part due to poor services performance, Nokia posted a 193-million-euro net profit for the three months to September, up from 82 million euros in the same period last year. But Nokia downgraded its 2020 outlook, lowering projected earnings per share by two cents to 0.23 euros in part due to difficulties in the North American market.“Next year, they will be restructuring and building the foundation for the long-term strategy, and that will cost time and money,” Mikael Rautanen, analyst at Inderes, told AFP.In midday trading on the Helsinki stock exchange, Nokia’s stock was showing a loss of 16 per cent at 2.89 euros.
“Some of the geopolitical trends are opening up new opportunities,” Lundmark said, adding that progress in 5G product development has been “excellent”.
5g again
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Is Nokia still existing? I really miss them. The strongest brand then
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