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As a result, the group earned 289 million euros from April to June, 37 percent less than a year ago, as Nokia announced on Thursday in Espoo. Nokia’s customers are reluctant to invest in the face of inflation and rising interest rates. That’s why the group had lowered its sales and margin targets for the year a week ago, when it announced its preliminary figures. As is known, sales in the last quarter amounted to 5.7 billion euros, three percent below the level of the previous year. Operating profit fell 16 percent to 474 million euros.
As CEO Pekka Lundmark highlighted in her statement, she considers the current weakness phase to be a short-term phenomenon. Looking beyond 2023, Nokia sees ample growth opportunities, including greater rollout of its 5G network.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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