Nokia shares fell in trading today after the company reported a 32 percent drop in second-quarter operating profit due to weak demand for its 5G equipment. The company manager explained the decline by saying that last year’s comparative period was the peak of the 5G rollout in India, so India caused three quarters of the decrease in earnings.
Citing “continued market weakness”, the company also announced that its net sales fell by 18 percent to 4.47 billion euros,
which is the lowest level since the fourth quarter of 2015.
At one point, Nokia’s share price was down 10.5 percent, and currently it is down 7.9 percent.
Source: www.portfolio.hu
