NOKIA PROFIT UP, NEW CEO PLEDGES TO BOOST 5G INVESTMENTS
Techlife News|Techlife News #470
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.

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