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Nokia Plans to Raise Full-Year Guidance After Strong Quarter

  • Finnish 5G supplier expects outperformance in sales, cost cuts
  • CEO Pekka Lundmark attempting turnaround amid global 5G race
Updated on

Nokia Oyj said it will probably raise its full-year outlook, citing a stronger-than-expected second quarter in which the network equipment maker was able to keep costs in check as demand picked up.

The Finnish company didn’t provide numbers but “expects to revise upwards its prior outlook ranges for 2021,” with additional details coming at its second-quarter results on July 29, it said in a statement on Tuesday. Nokia previously said it expected full-year net sales, adjusted for currency swings, to reach between 20.6 billion euros ($24.4 billion) and 21.8 billion euros.