Nokia sees 1Q operating profits down 18%, sales up 1%

COPENHAGEN, Denmark (AP) — Wireless and fixed-network equipment maker Nokia has reported first-quarter operating profits of 354 million euros, down 18% from a year ago. The Espoo, Finland-based company said Thursday that net sales in the first quarter grew 1% in constant currency to 5.348 billion euros. Nokia was “shocked to see the Russian invasion of Ukraine” and said earlier this month that “we will exit the Russian market in a responsible way and aim to provide the necessary support to maintain our customers’ networks, as we exit.” The Finnish Telecoms network and 5G technology supplier said the exit will have no impact on its financial outlook this year