Nokia gets on 5G growth path as new strategy takes shape – News 24-7 Live News 24-7 Live
Nokia gets on 5G growth path as new strategy takes shape

Nokia gets on 5G growth path as new strategy takes shape

Nokia’s new strategy showed early signs of bearing fruit on Thursday, with higher first-quarter sales of network and 5G equipment sending its shares soaring as much as 16%.Finland’s Nokia and Swedish rival Ericsson have been winning customers as telecom operators start rolling out 5G networks and China’s Huawei faces curbs from a growing number of governments over security concerns.

“This year we are seeing great demand in 5G and also in what we call network infrastructure which is basically fiber connections to homes and offices,” Chief Executive Pekka Lundmark said in an interview.After taking the top job last year, Lundmark has streamlined Nokia’s operation, cut jobs, and made changes to recover from product missteps under previous management that hit the company’s 5G ambitions and share price.

News Source: Hindustan times

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