Nokia Raises Merger Savings Target as Sales Trail Estimates

Updated on
  • Shares fall as second-quarter revenue drops 11 percent
  • CEO Suri promises more cut costs after Alcatel-Lucent deal

Nokia Oyj, mired in a stagnant market for wireless networking equipment, reported second-quarter sales that trailed analysts’ estimates and said it would find more costs to eliminate as the company waits for demand to rebound.

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