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Nokia Reports Sharp Turnaround

Finnish telecommunications equipment maker Nokia says it has benefited from a sharp turnaround in its business, following a round of changes in the company’s operations.

Nokia has also increased investment on research, while the China-US turmoil has put it firmly back in the global 5G rollout race, allowing it to gain ground on Swedish rival Ericsson.

The company’s April-June comparable operating profit rose to €682 million from €423 million a year earlier.

“Our 5G position has clearly strengthened… we are winning back customers,” said Nokia CEO Pekka Lundmark.

Nokia said it expects full-year net sales of up to €22.7 billion.

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