Nokia reports 32% drop in profit but sees recovery in 2nd half

Quick Summary:

:Nokia reported a 32 per cent drop in second-quarter operating profit, citing weak demand for 5G telecom equipment, but the Finnish telecoms group said sales should recover towards the end of 2024 with the help of orders from North America.

He said that the real boost would be felt next year.

Inderes analysts said that outlook would remain under pressure until the end of the year.

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Category: EconomyBusiness

Markets: SingaporeFinlandGermanyIndia

Topics: Telecom Cent Profit Lundmark Year Sales Market Ericsson Nokia Boost Operating

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-18 @ 13:16:05 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 394 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 22 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 21673192

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