Nokia Results

Company said sales at its network Infrastructure business rose 17 per cent due to a strong recovery in demand from communication service providers, notably in North America

During the July-Sept period, Ericsson's India revenue plunged 68% Y-o-Y, while Nokia's India sales saw a 43 per cent Y-o-Y dip. Both firms supply network solutions to telecom operators in India

Nokia's total addressable market in telecom stands at around $84 billion

CEO Pekka Lundmark said an improvement in order intake seen late last year continued in the first quarter despite a persistent challenging business environment

Nokia also posted weaker-than-expected earnings on Thursday in a separate statement

Finnish telecom gear maker Nokia on Thursday reported a 10 per cent increase in global net sales to 5,859 million euros in the first quarter ended March 2023, on account of over a four-fold jump in Indian business. The company registered 5,348 million euros in net sales in the same period a year ago. "Network Infrastructure and Mobile Networks both grew at double-digit rates, with Network Infrastructure increasing 13 per cent, led by Optical Networks and IP Networks, and Mobile Networks increasing 13 per cent, reflecting the continued ramp up of 5G in India," Nokia said in its earnings report. Boost in Indian sales saved the company from the reduced spending in North America and other geographies. Nokia India sales zoomed by over four-fold to 853 million euros during the reported quarter from 200 million euros in the March 2022 quarter on account of fast pace deployment of the 5G network in the country. "Mobile Networks net sales grew 13 per cent (on constant currency basis) as 5G

Wireless and fixed-network equipment maker Nokia on Thursday reported lower than expected profits as it warned that the current economic situation was starting to impact spending by operators and other customers. The Espoo, Finland-based company reported net profit of 342 million euros (USD 375 million) for the January-March period, down 18 per cent from 416 million euros a year earlier. Net income attributable to shareholders was 332 million euros, down from 409 million euros the previous year. Nokia's sales were up 10 per cent at 5.9 billion euros. Nokia is one of the world's main suppliers of 5G, the latest generation of broadband technology, along with Sweden's Ericsson, China's Huawei and South Korea's Samsung. Referring to increased sales, CEO Pekka Lundmark said that the first quarter gave a solid start to 2023 for Nokia but looking forward, we are starting to see some signs of the economic environment impacting customer spending. Given the ongoing need to invest in 5G and

Nokia on Thursday reported a smaller than expected drop in profit in the Q4 while it acknowledged it was facing some challenges in the race for 5G networks, particularly in the North American market

Lagging behind its rivals China's Huawei and Sweden's Ericsson in 5G network sales, Nokia said its April-June underlying earnings rose to 0.06 euros per share

Nokia CEO Rajeev Suri has delivered on his promises, and is, amazingly, well on track to meet his full-year goals

Nokia has been outpacing rival Ericsson due to its 2016 acquisition of rival Alcatel-Lucent