Skip to Content

Nokia sees double-digit fall in January-March sales as weak market for 5G technology prevails

HELSINKI (AP) — Wireless and fixed-network equipment maker Nokia has reported a smaller-than-expected profit and a substantial double-digit fall in sales in the first quarter due to a market weakened by a lack of investment by clients in 5G technology. The Finnish company reported a net profit of 501 million euros for the January-March period, up 46% from 342 million euros a year earlier. One-off gains from Nokia’s licensing business contributed to the profit. Nokia’s CEO said the ongoing weakness in the telecom equipment market was expected, because of economic uncertainty and high financing costs.

Article Topic Follows: AP-National

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KION 46 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content