Now Reading:

Nokia misses targets, spooks investors


Nokia misses targets, spooks investors


Finland’s Nokia took a tumble on Thursday after poorer-than-expected quarterly profits sent shares down by as much as 12%. at one point.

Nokia said its main telecom network equipment business suffered from lower software sales, the need to compete for low-margin deals in China and higher research and development costs.

It repeated its belief its ongoing takeover of Alcatel-Lucent would help improve the situation and allow it to scale up and take on main rivals Ericsson and Huawei.

Nokia no longer makes phones themselves, having sold out last year to Microsoft.

Every story can be told in many ways: see the perspectives from Euronews journalists in our other language teams.

Next Article