Monday, 26 June 2017

Nokia network revenue plunges on slowing demand

By Nick Wood, Total Telecom
Thursday 27 October 16

Finnish vendor lowers outlook for network equipment market; CFO resigns.

Nokia on Thursday lowered its outlook for the global equipment market after third-quarter revenue at its networks business plunged. The Finnish vendor reported group revenue of €5.95 billion, down from €6.40 billion last year. Nokia's networks business, which accounts for the vast majority of its total revenue, saw year-on-year revenue drop 12% to €5.32 billion, driven mainly by weak sales of mobile equipment…

Nokia on Thursday lowered its outlook for the global equipment market after third-quarter revenue at its networks business plunged. The Finnish vendor reported group revenue of €5.95 billion, down from €6.40 billion last year. Nokia's networks business, which accounts for the vast majority of its total revenue, saw year-on-year revenue drop 12% to €5.32 billion, driven mainly by weak sales of mobile equipment…

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