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HELSINKI, Oct 19, 2023 (AFP) – Finnish telecom giant Nokia said Thursday it could cut its workforce by as many as 14,000 people after it reported lower-than-expected third-quarter profits. “In the third quarter we saw an increased impact on our business from the macroeconomic challenges,” CEO Pekka Lundmark said in a statement. Nokia’s savings programme is expected to reduce the firm’s employees to as low as 72,000, reducing costs by up to 1.2 billion euros […]
HELSINKI, Finland (AFP) — Finnish telecom giant Nokia reported Thursday a lower-than-expected rise in earnings in the first quarter as economic headwinds affect spending by its customers. The telecommunications equipment maker, which is locked in a battle for 5G networks with Swedish rival Ericsson and China’s Huawei, said its net profit jumped 32 percent to 289 million euros ($317 million). But its earnings per share amounted to six cents, weaker than the seven cents expected […]
HELSINKI, Finland (AFP) — Finnish telecoms giant Nokia performed better than expected last year and foresees further growth in 2022 as a supply chain crunch and inflation are set to ease, the network equipment maker said Tuesday. The announcement follows a string of quarterly earnings surprises for the network equipment maker, which last October managed to boost its third quarter profits despite a worldwide shortage of computer chips. The group largely met expectations with 22.2 […]
HELSINKI, Finland (AFP) — Equipment maker Nokia more than doubled its net profits in the third quarter as the firm’s new CEO promised on Thursday to do “whatever it takes” to become the 5G market leader. On his first results day since taking the reins of the Finnish networks giant in August, Pekka Lundmark announced a move to a more focused approach as the company vies for 5G market share against competitors Ericsson and Huawei. […]
HELSINKI, Finland (AFP) — With competition among Earth’s telecoms providers as fierce as ever, equipment maker Nokia announced its expansion into a new market on Monday, winning a deal to install the first cellular network on the Moon. The Finnish equipment manufacturer said it was selected by NASA to deploy an “ultra-compact, low-power, space-hardened” wireless 4G network on the lunar surface, as part of the US space agency’s plan to establish a long-term human presence […]
PARIS, France (AFP) — Nokia plans to eliminate 1,233 jobs at its Alcatel-Lucent subsidiary in France, slashing its workforce in the country by a third as it grapples with intense competition in the telecoms equipment market amid the launch of 5G networks, the company and unions said Monday. It is the fourth round of layoffs at hardware manufacturer Alcatel-Lucent in the four years since it was bought by Nokia in 2016, and the biggest by […]
HELSINKI, Finland (AFP) — Nokia’s chief executive officer Rajeev Suri will leave the telecom equipment provider in September and be replaced by the current head of Finnish energy group Fortum, Nokia announced on Monday. Pekka Lundmark will take over on September 1, Nokia said. Suri, who has been Nokia’s president and CEO since April 2014, had “indicated earlier to the board that he was considering stepping down from his role at some point in the […]
HELSINKI, Finland (AFP) — Finnish telecom equipment provider Nokia beat expectations in a “challenging” 2019 as a strong fourth quarter enabled it to post its first full-year net profit since 2015, of 7.0 million euros. For the three months to December, it chalked up net profit of 563 million euros ($620 million), sparking sharp gains in the share price. Nokia was up more than 2.05 percent on the Helsinki Stock Exchange around early afternoon at […]
HELSINKI, Finland (AFP) — Shares in Nokia tumbled 20 percent on Thursday after the Finnish telecommunications equipment maker cut its earnings forecast in the face of intense competition to build the latest 5G mobile networks. While returning to profit in the third quarter, the company said it was downgrading its expectations for earnings and margins for this year and 2020 “due to margin pressure, additional 5G investments and additional digitalization investments.” Nokia and its rivals […]
SAN FRANCISCO, United States (AFP)–Nokia will help T-Mobile deploy a superfast “5G” mobile internet network across the United States in a $3.5-billion deal, the companies announced Monday. Finland-based Nokia will provide T-Mobile its suite of 5G technology, and help build the telecommunications firm’s new-generation nationwide wireless network, the companies said. “We are all in on 5G,” T-Mobile chief technology officer Neville Ray said in a release. “And together with Sprint, we’ll be able to do […]
HELSINKI, Finland (AFP) — Finland’s telecoms giant Nokia reported Thursday that it remained deep in the red at the start of the year, with sales in its main business, networks, on the decline. The company posted a loss of 488 million euros ($532 million) in the first quarter, an improvement from the 609 million euros a year earlier, prompting chief executive Rajeev Suri to say he believed in an “improving business momentum, even if some […]
BARCELONA, Spain (AFP) — Finnish brand Nokia, a former mobile star, on Sunday launched three new Android smartphones and unveiled a revamped version of its iconic 3310 model more than a decade after it was phased out. Unlike the original, which was known for its sturdiness, the new Nokia 3310 will allow web browsing. The new version will bring back its predecessor’s popular “Snake” game and distinctive ringtones, said Arto Nummela, the head of Finnish […]
