Nokia's Q2 operating profit drops 32% due to weak 5G demand, cuts full-year sales guidance.
Nokia's Q2 operating profit dropped 32% due to weak demand for 5G telecom equipment, with comparable operating profit falling to 423 million euros from 619 million euros a year earlier. The Finnish telecom company has also cut its full-year sales guidance, and its CEO, Pekka Lundmark, said that sales should improve in the second half, with the company's order intake particularly in the Networks division.
July 18, 2024
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