Tag: $Nokia

Nokia reported first-quarter profit well below market expectations on Thursday and flagged a short-term disruption from U.S. tariffs with an estimated impact of between 20 million and 30 million euros to its second-quarter profit.

The Commission found that Nokia and Infinera’s combined market share was moderate and that several competitors would continue to exert pressure, ensuring competition remains strong.

The head of Intel’s artificial-intelligence operations is leaving to take the top job at Nokia, just months after former Intel CEO Pat Gelsinger abruptly retired from the company.

Shares of Finnish telecom firm Nokia tumbled on Thursday after the company reported a 32% drop in second-quarter operating profit on the back of weak demand for its 5G equipment.

Nokia said on Thursday that it will begin a 600 million euro ($653 million) share buyback this quarter, after it reported that its profit plunged in 2023.

Nokia plunged to a three-year low after losing out to rival Ericsson on a major contract with telecom juggernaut AT&T over the rollout of an open-radio access network (Open RAN) in the U.S.

Nokia said it would cut up to 14,000 jobs as part of a cost cutting plan following third quarter earnings that plunged.