ID:
1556171269049556000
Thu, 2019-04-25 05:37
HELSINKI: Finnish telecom network equipment maker Nokia reported a surprise quarterly loss on Thursday, citing hard competition in its core networks business.
“The slow start to 2019 and expected weak overall first half puts significant pressure on execution in the second half,” the company said in a statement.
Having signaled back in January “a particularly weak Q1,” Nokia reported a fall to an operating loss (non-IFRS) of €59 million ($66 million) from a profit of €239 million in the first quarter a year ago.
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