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China’s - 2 Pekka Lundmark - 2 ” - 1 it's - 1 Lundmark - 1 ” Lundmark - 1 — - 1
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HELSINKI - 2 Nokia - 2 China’s Huawei - 2 South - 2 Samsung - 2 5G - 1 Sweden’s Ericsson - 1 eBay - 1

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☆ Nokia Sales and Profit Drop as Economic Challenges Lead to Cutback on 5G Investment
  + stars: | 2024-01-25 | by ( Associated Press | Jan. | At A.M. | ) www.usnews.com   time to read: +2 min
The Espoo, Finland-based company reported net profit of 568 million euros ($619 million) for the October-to-December quarter, down from 929 million euros in the same period a year earlier. Nokia is one of the world’s main suppliers of 5G, the latest generation of broadband technology, along with Sweden’s Ericsson, China’s Huawei and South Korea’s Samsung. Nokia's net income attributable to shareholders came in at 558 million euros in the fourth quarter, down from 931 million euros the previous year. Nokia’s sales also fell 23%, to 5.7 billion euros from 7.5 billion euros. “Looking ahead, we expect the challenging environment of 2023 to continue during the first half of 2024, particularly in the first quarter,” he said.
Persons: China’s, Pekka Lundmark, ” Organizations: HELSINKI, Nokia, 5G, Sweden’s Ericsson, China’s Huawei, South, Samsung, eBay Locations: Espoo, Finland
☆ Nokia Plans to Cut up to 14,000 Jobs After Sales and Profits Plunge in a Weak Market
  + stars: | 2023-10-19 | by ( Associated Press | Oct. | At A.M. | ) www.usnews.com   time to read: +3 min
HELSINKI (AP) — Telecom gear maker Nokia said Thursday that it is planning to cut up to 14,000 jobs worldwide, or 16% of its workforce, as part of a push to reduce costs following a plunge in third-quarter sales and profit. The company said it is aiming to slash 800 million euros ($843 billion) to 1.2 billion euros in costs by the end of 2026. That is expected to lead to a reduction from 86,000 employees to between 72,000 and 77,000 over that time period. Nokia’s third-quarter sales plummeted 20%, to 4.98 billion euros from 6.24 billion in the same three-month period last year. The company’s biggest unit by revenue — the mobile networks business — declined 24% to 2.16 billion euros, driven mainly by weakness in the North American market.
Persons: it's, Pekka Lundmark, Lundmark, China’s, ” Lundmark, — Organizations: HELSINKI, — Telecom, Nokia, Ericsson, China’s Huawei, South, Samsung, “, North, North America nosedived Locations: Finnish, North American, North America, India
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