COOWA FINANCE - Nokia reports surprise first quarter loss; (BUT IN FOR 5G)
Date:2019-04-25 13:48:53 Posted by:franklin View:349HELSINKI (Reuters) - Finnish telecom network equipment maker Nokia reported a surprise quarterly loss on Thursday, citing hard competition in its core business, the networks unit.
Having signaled back in January "a particularly weak Q1", Nokia reported a fall to an operating loss (non-IFRS) of 59 million euros ($66 million) from a profit of 239 million euros in the first quarter a year ago.
That compared with analysts' profit expectation of 305 million in a Reuters poll.
The networks industry - dominated by Nokia, Sweden's Ericsson and China's Huawei - has been battered by years of slowing demand since 4G network sales peaked in the middle of the decade.
It is now readying for a new cycle of network upgrades as operators have started to invest in 5G equipment.
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The networks industry - dominated by Nokia, Sweden's Ericsson and China's Huawei - has been battered by years of slowing demand since 4G network sales peaked in the middle of the decade.
It is now readying for a new cycle of network upgrades as operators have started to invest in 5G equipment.
