Nokia Says Network Infrastructure Demand May Pick Up in 2024
- Finnish firm had challenging year with weak demand for 5G gear
- Company recently missed out on $14 billion AT&T contract
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Nokia Oyj said it might see a pickup in the second half of the year as its internet network infrastructure business brings in sales and cost-cutting measures pay off.
The Finnish telecom said it expects adjusted operating profit for 2024 to be €2.3 billion to €2.9 billion ($2.5 billion to $3.2 billion), according to a statement on Thursday. Analysts had expected the profitability metric to remain stable from a year earlier at about €2.4 billion.