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☆ European markets set for positive open, tracking Wall Street higher
▼ + stars: | 2024-10-15 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European stocks are heading for a positive open Tuesday, with global markets broadly tracking gains on Wall Street. The U.K.'s FTSE 100 index is expected to open 40 points higher at 8,324, Germany's DAX up 86 points at 19,586, France's CAC up 27 points at 7,621 and Italy's FTSE MIB up 125 points at 34,653, according to data from IG. The positive start for Europe comes after gains on Wall Street that saw the Dow Jones Industrial Average and the S&P 500 reach new intraday highs and record closes. Asia-Pacific markets were mixed overnight, but regional chip stocks rose, boosted by Nvidia's share price rising 2.4% Monday before closing at a record high. In Europe Tuesday, earnings are set to come from LVMH and Ericsson and data releases include the U.K.'s latest unemployment figures, French inflation data and the Europe and German ZEW index of economic sentiment.

Persons: Germany's DAX Organizations: France's CAC, IG, Dow Jones Industrial, Nvidia's, LVMH, Ericsson Locations: Europe, Asia, Pacific

☆ Ericsson shares jump 7% on third-quarter beat, growth in North America sales
▼ + stars: | 2024-10-15 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

Shares of Swedish telecom firm Ericsson jumped amid third-quarter core earnings that surpassed analyst expectations and growth in North American demand. Net sales shed 4% year-on-year to 61.8 billion Swedish crowns in the third quarter, but nevertheless surpassed analyst expectations of near 61.6 billion, according to Reuters estimates. North America emerged as a bright spot in the sales picture, with year-on-year growth of more than 50%. "North America was the first to roll out 5G, and of course they were also the first to therefore slow down the pace. The North American growth offset steep third-quarter sales declines in both north east and south east Asia, where telecommunication companies have recently been focusing on developing markets such as India.

Persons: Börje Ekholm, CNBC's, Ekholm Organizations: Ericsson, Reuters, Nokia, AT, 5G, UBS Locations: North, London, America, U.S, ORAN, Asia, India, China, Sweden

☆ Ericsson starting to see a gradual recovery, CEO says
▼ + stars: | 2024-10-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEricsson starting to see a gradual recovery, CEO saysEricsson CEO Börje Ekholm says the Swedish firm has taken a lot of actions to adjust how it operates as the market remains challenging.

Persons: Börje Ekholm Organizations: Ericsson Locations: Swedish

☆ Ericsson CEO Börje Ekholm on AI
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEricsson CEO Börje Ekholm on AIEricsson CEO Börje Ekholm joins Worldwide Exchange to explain why he is calling on the European Union to revamp its approach to AI regulation.

Persons: Börje Ekholm Organizations: Ericsson, Worldwide Exchange, European Union

☆ Ekholm: Fragmented AI regulation is slowing down adoption in Europe.
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEkholm: Fragmented AI regulation is slowing down adoption in Europe. Borje Ekholm, CEO at Ericsson, expresses concerns about the fragmentation of AI regulations in Europe, which he believes is slowing down AI adoption and contributing to Europe's productivity gap compared to the U.S.

Persons: Borje Ekholm Organizations: Ericsson Locations: Europe

☆ The Olympics will challenge mobile-network providers to satiate 15 million attendees' hunger for internet connectivity
▼ + stars: | 2024-07-25 | by ( Chris Stokel-Walker | ) www.businessinsider.com time to read: +7 min

The Olympics will challenge wireless providers as 15 million people seek internet access at once. To meet that expectation, telecommunications companies must bolster Paris' 5G network, the technology system that powers users' mobile-internet access. Harnessing private 5G infrastructureOrange is installing cellphone antennas on boats and extension units in sporting venues to bolster its 5G network. It uses 5G's network-splicing capabilities to reserve a part of the public 5G network for private use. To support the 2024 Olympics' connectivity needs, network providers must prepare to rely on 5G's strength.

Persons: —, they'll, Bertrand Rojat, Rojat, wouldn't, Stephen Giles, Giles, Katherine Ainley, Leila Jordan Organizations: Service, Olympic Games, KT Corp, Olympic, Broadcasters, Prix, UEFA European Football, Stade de France, Rugby, Cisco, NTT Data, International Olympic Committee, Ericsson Locations: Paris, South Korea, Tokyo, France, Orange, French, Ireland

☆ Ericsson's Q2 sales fall a smaller-than-expected 7%
▼ + stars: | 2024-07-12 | by ( ) www.cnbc.com time to read: +1 min

Swedish telecom gear maker Ericsson reported a smaller-than-expected 7% drop in second-quarter sales on Friday as sluggish demand for 5G gear in most markets was slightly offset by 14% growth in North America. Revenue dropped to 59.9 billion crowns ($5.69 billion) from 64.4 billion crowns a year ago. Analysts, on average, had forecast revenue of 58.3 billion crowns in an LSEG poll. Both companies were more upbeat in April, however, projecting a stronger second half of the year. However our sales will benefit during the second half from contract deliveries in North America," said CEO Börje Ekholm in a statement.

Persons: Börje Ekholm Organizations: Ericsson, Revenue, Nokia Locations: Swedish, North America, India

☆ Tech giants bet next-generation optical networks will reduce AI's climate impact, aid 6G transition
▼ + stars: | 2024-06-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

IOWN Global Forum is a global group aiming to develop technical standards for all-photonics networks. "Mobile traffic is growing more and more every day," Katsuhiko Kawazoe, chair of the IOWN Global Forum, told CNBC via email. "Data centers are becoming bigger and bigger, and hyperscale data centers are a struggle for societies' carbon reductions," Kawashima said. "To deploy antennas, we need optical fiber to connect antennas to radio data centers," Kawashima explained. For now, the IOWN Global Forum is working toward achieving its main goals by 2030.

Persons: —, Kawazoe, Gonzalo Camarillo, OpenAI's, Kawashima, Banks, NTT's Kawashima Organizations: Getty, Microsoft, Google, Intel, Sony, IOWN, photonics, NTT, Ericsson, Nokia, SK Hynix, CNBC, IOWN Global, NTT Corporation, Mitsubishi, Netflix, Amazon, 5G

☆ Ted Cruz's leaked donor docs show how money in politics really works
▼ + stars: | 2024-06-20 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +7 min

Read previewOn Tuesday, reporter Pablo Manríquez discovered a collection of documents that appear to belong to Sen. Ted Cruz's campaign. Each individual at the dinner had pledged between $1,000 and $2,500 to Cruz's campaign, according to the documents. AdvertisementFor each of those New York meetings, Cruz was supplied with detailed biographies of his interlocutors, a list of their recent political contributions, and directions on how much money to ask for. For some meetings, Cruz is directed to ask a single donor whether they will contribute $119,200 to his race. Advertisement"Ask [donor] to talk to your team about outside efforts" isn't a 'solicitation' under federal campaign finance law," Ghosh wrote on X.

Persons: —, Pablo Manríquez, Sen, Ted Cruz's, Cruz, Cruz —, Colin Allred, who's, Donors, Cruz's, Saurav Ghosh, it's, reelect Cruz, ade Organizations: Service, Texas Republican, Business, Democratic Rep, Washington , DC, Juneteenth, GOP, Capitol, Republican, Senate, Committee, Ericsson, National Association of, Texas GOP, National Republican, @tedcruz, TX GOP Locations: America, Washington ,, Texas, New York, York, Manhattan

☆ Copa America stadiums and host cities guide: What to know, food, drinks, trivia and transportation
▼ + stars: | 2024-06-05 | by ( Elias Burke | ) www.nytimes.com time to read: +28 min

How to get there using public transportation: CapMetro, the public transportation provider in Austin, increases service on matchdays and the stadium is generally accessible from most parts of the city. How to get there using public transportation: MARTA, a city-wide rail and bus system, provides two stops on the stadium’s doorstep. @ArrowheadEats is a useful resource on X that tracks all the newest and tastiest options at the Kansas City stadium. How to get there using public transportation: There is no public transportation system to the stadium, so you will need to drive or take a taxi. How to get there using public transportation: Unfortunately, there is little infrastructure to service fans planning to visit the stadium on public transportation.

Persons: Christen Press, Franklin, Matt’s El, won’t, Tom Brady, Gamechanger, Kevin Gillespie, Kanye, West, Lars Magnus Ericsson, Aaron Rodgers, Jerry World, Jerry Jones, Ezequiel Lavezzi, Gonzalo Higuain, Lionel Messi, Ronnie Killen, Hugo’s, Michael Jackson, Jackson, Kauffman, Alex Abnos, you’ve, Guy Fieri, Motley, mixologist Tony Abou, Ganim, Mary, Silver, margarita, Casamigos, Jack, Darren Aronofsky, Wilkinson Sejour, you’re, Pope John Paul II, Borussia, Taylor, John Bradford Organizations: Copa America, Argentina, Mercedes, Benz, Atlanta Falcons, Copa, The Athletic, Austin FC, Angel, Christen, Crown Royal, Amazon, Hopsquad, Metro Red, Atlanta, New England Patriots, LA Rams, Falcons, Kanye West, Georgia Aquarium, Breeze, Philips Arena, CNN Center Station, Canada, United States, Bank of America, Carolina Panthers, Charlotte FC, Ericsson, Bluetooth, Good Samaritan, NASCAR, of Fame, Tours, Stonewall, T, Dallas Cowboys, Packers, Pittsburgh Steelers, Victory Station, Centrepoint, Bolivia, Houston Texans, NFL, Copa America Centenario, Houston Livestock, Astros, Houston’s MLB, Baltimore Orioles, METRORail, NRG, Kansas City Chiefs, Super Bowl, Arrowhead, Kansas City, Chiefs, Oakland Raiders, Seattle Seahawks, MLB, Kauffman, KC Royals, Tampa Bay Rays, Royals, Sporting Kansas City, U.S, MLS, El Capitan, LA Chargers, SoFi, LAX, Getty Center, Universal Studios, Line, Lennox Station, Metro, Express, Las Vegas Raiders, UNLV Rebels, Food Network, Miami Dolphins, Miami Hurricanes, America, Miami Gardens ., South, South Florida Tequesta, Orange Bowl, Miami Carol City, Panama, MetLife, NY Giants, NY Jets, Chelsea, New, NJ, Penn, SEC ”, Inter, Co, Orlando City, Orlando, La Liga club Atletico Madrid ., Stoke, Iron Lion, Borussia Dortmund’s, Disney World, Hogwarts Express, Disney, Star, Hollywood Studios, Falcon, Arizona Cardinals, College Football National, Funk, Brewery, Farm, Cardinals, Costa Rica, San Francisco, Denver Broncos, Scratch, Levi’s, Intel, Great America, VTA Locations: Canada, Atlanta, United States, Copa America, Austin , Texas, USWNT, Nigeria, Texas, Czech, Bulleit, Austin, Celis, matchdays, Venezuela, Jamaica, Costa Rica, Paraguay, Atlanta , Georgia, Argentina, Panama, United, Charlotte, North Carolina, Swedish, American, Arlington , Texas, Arlington, Dallas, Irving, Peru, Chile, States, Houston , Texas, . El, Mexico, Fannin, Colombia, , Kansas City , Missouri, Kansas, Kansas City, Arrowhead, Athletic’s, Uruguay, Mercy, , Kansas City , Kansas, America, Inglewood , California, Inglewood, Los Angeles, Santa Monica, Venice, La Fonda, LA, Hawthorne, Lennox, Brazil, Paradise, Nevada, Vegas, Ecuador, Miami, Florida, Miami Gardens, Versailles, South Florida, East Rutherford , New Jersey, New York City, Secaucus, Bolivia, Orlando, Glendale , Arizona, Arizona, Glendale, Phoenix, Costa, Santa Clara , California, San Francisco 49ers, San Francisco, California’s, Great, Levi’s, Lick

☆ Ericsson is shutting down its ad division, the latest in a long line of telco-adtech divorces
▼ + stars: | 2024-06-04 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

Read previewSwedish telecommunications-equipment company Ericsson plans to shut down Emodo, the advertising business it launched in 2017, multiple people familiar with the matter told Business Insider. "Emodo was created in a strategic play for Ericsson to provide our telco customers with monetization opportunities through digital advertising," an Ericsson spokesperson said in a statement. Emodo had only this year brought on a new team to help it build AI-powered ad solutions for connected TV. The closure of Emodo marks the latest in a long line of telco-adtech collaborations that have bitten the dust. The Singaporean telecoms company Singtel divested its Amobee adtech division to the adtech company Tremor International, now known as Nexxen, in 2022.

Persons: —, Emodo, Andrew Rutledge —, DoubleClick, Matt Prohaska, Prohaska Organizations: Service, Ericsson, Business, CTV, Samsung, Verizon, Yahoo, AOL, Microsoft, Singtel, Prohaska Consulting Locations: Xandr

☆ A Florida man returned from Europe with a $143,000 phone bill after failing to set up international roaming
▼ + stars: | 2024-04-19 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

A Florida man received a $143,000 phone bill from T-Mobile after an overseas trip to Switzerland. The charges were due to his phone not being set for international roaming, according to ABC Action News. AdvertisementA Florida man returned from a trip to Switzerland with his wife last September to discover he was facing an unexpectedly massive phone bill, Tampa's ABC Action News reported. AdvertisementRemund had incurred thousands of dollars in daily roaming charges because his phone was not set up for international roaming, the report said. Related storiesRemund said he contacted T-Mobile, which confirmed the bill was indeed what he owed, per ABC Action News.

Persons: —, Rene Remund, Remund Organizations: Mobile, ABC Action, Service, ABC, Forbes, Federal Communications Commission, Ericsson, North Locations: Florida, Switzerland

☆ Nokia sees stronger H2 after Q1 comparable profit grows less than expected
▼ + stars: | 2024-04-18 | by ( ) www.cnbc.com time to read: +1 min

Finnish telecom gear maker Nokia reported on Thursday a smaller rise than expected in first-quarter comparable operating profit as sales tumbled when operators reduced spending on 5G technology. Four analysts polled by LSEG had on average forecast a comparable profit of 663 million euros. "We remain confident in a stronger second half and achieving our full year outlook," he said in a statement. The company repeated an outlook announced in January for a comparable operating profit in 2024 of 2.3-2.9 billion euros. Nokia in January forecast a demand recovery in the second half of 2024.

Persons: LSEG, Pekka Lundmark Organizations: Nokia, Ericsson Locations: North America, India

☆ Ericsson's Q1 profit grows unexpectedly, eyes stabilisation of sales in H2
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: +1 min

Telecom equipment maker Ericsson reported on Tuesday a first-quarter adjusted profit that beat expectations and said sales might stabilise in the second half of the year despite weak demand for 5G gear. Operating profit excluding restructuring charges grew unexpectedly, to 4.3 billion crowns ($394.40 million) from a year-earlier 4.0 billion despite a 15% sales drop. The profit included a one-off gain of 1.9 billion crowns related to the resolution of a commercial dispute, Ericsson said. "In the second half, our margins should benefit from improved business mix," it said. Ericsson on Tuesday forecast a gross margin excluding restructuring charges at the Networks division of 42%-44% for the second quarter of 2024.

Persons: Ericsson Organizations: Telecom, Ericsson, LSEG, Radio Access Network, Networks Locations: Swedish, North America, China

☆ 'We need to continue the journey to take out costs' at Ericsson, says CEO
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We need to continue the journey to take out costs' at Ericsson, says CEOBörje Ekholm, CEO of Ericsson, discusses first-quarter results and the outlook for the telecommunications industry.

Persons: Börje Ekholm Organizations: Ericsson

☆ 3 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-04-13 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Heightened tensions in the Middle East, including the possibility of Iran attacking Israel, sent stocks back down and oil prices higher. If the choice is between a weak economy with lower rates or a strong economy with higher rates, we'll take the strong economy every time. Low rates may help with valuation multiples, but it's a strong economy that leads to earnings growth and that's what we, as long-term investors care about. Shelter costs are a major sticking point for overall inflation, which makes Tuesday's housing starts and building permits report a key watch item. We'll get another look at housing with the release of the March existing home sales report on Thursday.

Persons: we've, we'll, Morgan Stanley, Wells, bode, we're, Goldman Sachs, Charles Schwab, Johnson, ERIC, JB Hunt, Kinder Morgan, DR, Ally, Huntington, Jim Cramer's, Jim Cramer, Jim, Abbott, Ethan Miller Organizations: Dow Jones, Wednesday, Federal Reserve, Abbott Labs, Cardiovascular Systems, Diagnostics, Procter & Gamble, Constellation Brands, Procter, T Bank, Bank of America, Bank of New York Mellon, BK, PNC Financial, PNC, Ericsson, United Airlines, Interactive, ASML Holdings, US Bancorp, Citizens, Alcoa, CSX, Discover Financial, Nokia, Alaska Air, Blackstone BX, McLennan, Netflix, PPG Industries, Gamble, Financial, American Express, Jim Cramer's Charitable, CNBC, Las Vegas Convention, Getty Locations: Iran, Israel, China, Marsh, Las Vegas , Nevada

☆ Ericsson will cut 1,200 jobs in Sweden
▼ + stars: | 2024-03-25 | by ( Alex Koller | ) www.cnbc.com time to read: +1 min

Ericsson recently announced it is planning to cut 8,500 jobs as part of its cost-cutting measures. Ericsson announced on Monday that it will lay off around 1,200 employees in Sweden as the telecom company faces slowed demand for its 5G equipment. Last year, the company laid off 8,500 staffers, or about 8% of its workforce, to cut costs. Ericsson had 99,950 employees, including 10,744 workers in North America, at the end of last year, according to an SEC filing. In 2023, more than 260,000 workers were let go from almost 1,200 tech companies.

Persons: Ericsson Organizations: Ericsson, SEC, Industry, Meta, Microsoft, Cisco Locations: Sweden, North America

☆ Ericsson to lay off 1,200 people in Sweden amid challenging market
▼ + stars: | 2024-03-25 | by ( ) www.cnbc.com time to read: +1 min

Sweden's Ericsson on Monday said it would lay off about 1,200 employees in Sweden as a part of costs cuts announced earlier this year, citing a challenging mobile networks market and lower volumes in 2024. After a few years of high demand for 5G equipment, buying by telecom providers has slowed, prompting firms such as Ericsson and Nokia to lay off thousands of employees to save costs. "As previously stated, Ericsson expects a challenging mobile networks market in 2024, with further volume contraction as customers remain cautious," the company said in a statement. Ericsson will continue its initiatives to increase operational efficiency during 2024, but will not make any separate statements on those, it added. Ericsson had told Reuters in January it could look at further cost cuts this year including layoffs but without giving a specific number.

Persons: Sweden's Organizations: Sweden's Ericsson, Ericsson, Nokia, Reuters Locations: Sweden

☆ Malaysia Rises as Crucial Link in Chip Supply Chain
▼ + stars: | 2024-03-13 | by ( Patricia Cohen | ) www.nytimes.com time to read: +1 min

Construction cranes still surround the brand-spanking new plant in Kulim’s industrial park in Malaysia. But inside, legions of workers hired by the Austrian tech giant AT&S are already gearing up to produce at full capacity by year’s end. The American chip giant Intel and the German corporation Infineon are each investing $7 billion. Nvidia, the world’s leading maker of chips powering artificial intelligence, is teaming up with the country’s utilities conglomerate to develop a $4.3 billion artificial intelligence cloud and supercomputer center. Texas Instruments, Ericsson, Bosch and Lam Research are all expanding in Malaysia.

Organizations: Intel, Infineon, Nvidia, Texas, Ericsson, Bosch, Lam Research Locations: Malaysia, Austrian

☆ British telco giant BT expects to launch 5G standalone — or 'true' 5G — later this year
▼ + stars: | 2024-03-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Jason Alden | Bloomberg | Getty ImagesBARCELONA — British telecommunications giant BT says it expects to launch its first so-called "standalone 5G" network in 2024. Howard Watson, BT's chief technology officer, told CNBC that the telco group plans to switch on its standalone 5G network, which is often referred to in the industry as "true" 5G, later this year. "We've already been ensuring that the SIM cards that our customers have in their current 5G devices can do 5G standalone," Watson added. 5G standalone is different from 5G Advanced, though. 5G standalone refers to the development of a 5G network that isn't being built on top of 4G cores.

Persons: Jason Alden, Howard Watson, Watson, Milind Kulkarni, Kulkarni Organizations: BT Group, Bloomberg, Getty, BT, CNBC, Mobile, Congress, Swedish, Ericsson, Qualcomm, Apple, Samsung Locations: Reading, BARCELONA, British, Barcelona, Europe

☆ Ericsson CEO: Network operators need cross-European consolidation
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEricsson CEO: Network operators need cross-European consolidationBorje Ekholm, CEO of Ericsson, speaks to CNBC's Karen Tso at Mobile World Congress in Barcelona, Spain.

Persons: Karen Tso Organizations: Ericsson, Mobile Locations: Barcelona, Spain

☆ Cisco to cut thousands of jobs as it seeks to focus on high growth areas: Reuters
▼ + stars: | 2024-02-09 | by ( ) www.cnbc.com time to read: +1 min

A logo sits illuminated outside the Cisco booth at ISE 2024 on January 30, 2024 in Barcelona, Spain. Network giant Cisco is planning to restructure its business which will include laying off thousands of employees, as it seeks to focus on high-growth areas, according to three sources familiar with the matter. The San Jose, California-based company has a total employee count of 84,900 as of fiscal 2023, according to its website. The company is still deciding on the total number of employees to be affected by the layoffs, one person said. The move would come at a time when tech companies, including telecom makers Nokia and Ericsson, cut thousands of jobs last year in a bid to lower costs.

Organizations: Cisco, Network, Nokia, Ericsson, Microsoft Locations: Barcelona, Spain, San Jose , California

☆ Mikaela Shiffrin: Ski superstar tells CNN she was ‘lucky’ to escape major damage in high-speed crash
▼ + stars: | 2024-02-08 | by ( Ben Church | Don Riddell | ) edition.cnn.com time to read: +7 min

CNN —US skiing star Mikaela Shiffrin has set no timeline for her return to the slopes as she continues her recovery process following a high-speed crash in January. “This one, to be honest, I kind of saw it coming from the air, a little bit,” she added. “I was trying to avoid that scenario, but it also happens fast enough there’s not a lot you can do about it. Shiffrin rushed to his side at the hospital and was with him when he woke up from surgery. He just makes everyone around him smile.”Mikaela Shiffrin says she was lucky to avoid serious injury during a crash last month.

Persons: Shiffrin, ”, CNN Sport’s Don Riddell, ” Shiffrin, Aleksander Aamodt Kilde, “, Mikaela Shiffrin, Jonas Ericsson, Kilde, he’s, we’ve, Sofia Goggia, “ You’re, “ I’m, Taylor Swift, Travis Kelce, , I’ve Organizations: CNN, Agence, Federation, Kansas City Chiefs, San Francisco 49ers, Chiefs Locations: Italy, Andorra, Norwegian, Wengen, Switzerland, Italian, Ponte di Legno

☆ Nokia to begin $653 million share buyback program after profit slump and warning of challenging 2024
▼ + stars: | 2024-01-25 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Nokia on Thursday said that it will begin a two-year 600 million euro ($653 million) share buyback this quarter, after reporting that its profit plunged in 2023. Comparable operating profit fell 27% year-on-year to 846 million. The company forecast comparable operating profit will reach between 2.3 billion euros and 2.9 billion euros in 2024. India, which has been investing heavily in its next-generation mobile networks over the past couple of years, is beginning to slow down. Mobile networks, Nokia's biggest division by revenue, saw sales fall 17% year-on-year to 2.5 billion euros in the fourth quarter.

Persons: Pekka Lundmark, Lundmark Organizations: Nokia, Mobile, Mobile Networks, AT, Ericsson, U.S . AT Locations: India

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

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