Nokia beats forecasts but lowers networks outlook

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

Nokia reported larger than expected quarterly profits on Thursday thanks to a patent deal with Apple and improving profitability at its network business, but warned its key market would slow. Network gear vendors have struggled amid weak demand from telecom operators, but Nokia has been outpacing rival Ericsson due to its 2016 acquisition of Franco-American rival Alcatel-Lucent.