Finnish telecommunications company Nokia
on Thursday reported improved third-quarter
earnings largely in line with expectations, but
acknowledged it faced challenges in the race for
5G cellular networks.
Nokia said it would invest more in the new
generation of broadband technology and
revamp business strategy under its new CEO,
who said the company would do “whatever it
takes” to achieve 5G leadership.
The company based in Espoo, Finland reported
that net profit for the July-September period
was up 14% to 305 million euros ($358 million).
Sales were down 7% to 5.3 billion euros.
The quarterly report was the first one issued
since CEO Pekka Lundmark took over the
company’s top spot on Aug. 1.