Nokia – Expected to launch 5G networks
Telecom network equipment maker Nokia is expected to post another plunge in quarterly profits on Thursday ahead of an anticipated boost later this year from next-generation 5G networks.
Shares in the company were boosted last week as Swedish rival Ericsson posted an unexpected swing to a modest operating profit, citing growing 5G sales in North America. Nokia stock is up 30 per cent year-to-date.
The majority of Nokia’s bottom line in the second quarter is expected to come from its highly-profitable patent licensing business, which stems from the times Nokia was the world’s largest handset maker.