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Nokia shares drop on disappointing 5G equipment news
- Friday | 26th April, 2019
That compared with analysts’ profit expectations ranging from 175 million to 457 million euros profit in a Reuters poll. Ericsson last week posted January-March quarter profit that beat forecasts, spurring the Swedish firm to lift its outlook for the global telecom networks market. Shares fell 9 percent to 4.68 euros on the news on Thursday, their lowest level in six months. “It looks like Nokia has not upgraded its product offering fully to 5G yet. Nokia said it would be under significant pressure to deliver in the second half after a slow start to the year in supplying next-generation mobile gear.
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