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Nokia warns of challenges in playing catch up with rivals in 2021
- Thursday | 4th February, 2021
HELSINKI (Reuters) – Finnish telecom network equipment maker Nokia warned of challenges to come this year as it tries to catch up with rivals after a strong finish to 2020. Revenue at its mainstay networks business fell 7% to 5.04 billion euros ($6.05 billion). Revenue overall fell 5% to 6.57 billion euros during the quarter, but beat a consensus figure of 6.42 billion euros, Refinitiv Eikon data showed. Quarterly underlying earnings fell to 0.14 euros per share from 0.15 euros a year ago, beating the 0.11 euros consensus. “We maintain our view that Nokia continues to lag Ericsson in technology and is unlikely to catch up before 2022,” Liberum analyst Janardan Menon said.
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