Nokia Quarterly Sales Lowest Since 2015 as 5G Slump Persists
- Net sales declined 18% to €4.47 billion in the second quarter
- North American market shows early signs of recovery, CEO says
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Nokia Oyj sales in the second quarter were the lowest of any period since 2015 and missed analyst estimates, as weak investment in mobile network upgrades continues to hobble the 5G equipment market.
Net sales declined 18% to €4.47 billion ($4.9 billion) in the quarter from a year earlier, the Espoo, Finland-based company said in a statement on Thursday. The revenue figure excludes its undersea cable business, which it is selling. It compares to an average €4.76 billion forecast by analysts surveyed by Bloomberg.