Nokia benefits from the 5G technology trend
The Finnish network equipment supplier was able to considerably increase its turnover in the second quarter, attributed primarily to the new 5G network.15 Aug 2019 Roland Freist
In the second quarter of 2019 Nokia had a turnover of 5.7 billion euros, which is 7% more than in the same period of the previous year. Turnover increased the strongest in Latin America, followed by North America and Asia-Pacific. Operating profits increased by 35% to 451 million euros, reported Group CEO Rajeev Suri . Overall, in spite of the shortfall of 191 million euros, this is still around 30% less than the previous year. Nokia is currently implementing a strict cost-savings program.
Suri attributes the success above all to the expansion of the 5G mobile networks. Last year Nokia managed to land the largest order in the world in the 5G environment: T-Mobile US commissioned the Finns with the supply of hardware, software and services to a converted value of approximately 3 billion euros.
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