		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="111265417"
		 data-section="2">
		</amp-ad>
				</div>
			</div>
		</div><p>Wireless network maker and 5G technology provider Nokia reported substantially improved second-quarter profit on Thursday, citing the help of its new operating model and booming sales of 5G equipment.</p>
<p>The company, based in Espoo, Finland, reported net profit of 539 million euros (£459m) for the April-June period, up 71% from 316 million euros a year earlier.</p>
<p>Sales were up 4% at 5.3 billion euros.</p>
<p>Chief executive Pekka Lundmark, who took over Nokia’s top job a year ago and has drastically changed the business strategy, said the second-quarter results showed the company was on the right track.</p>
<p>“We are already seeing the benefits of our new operating model, which helped us to deliver such a strong financial performance,” Mr Lundmark said.</p>
<p>The executive has vowed to make Nokia the world leader in 5G – the new generation of broadband technology – even if it means sacrificing short-term profitability.</p>
<p>In 5G technology, Nokia is in a tight race with Nordic competitor Ericsson, China’s Huawei and South Korea’s Samsung, among others.</p>
<p>Mr Lundmark said Nokia has revised its full-year profit outlook upwards and “we now expect comparable operating margin between 10 and 12% for full year 2021, compared to our previous range of 7-10%.”</p>
<p>“We have executed faster than planned on our strategy in the first half, which provides us with a good foundation for the full year,” he said.</p>
<p>Mr Lundmark acknowledged, however, that Nokia faced “headwinds” in markets such as the United States, where the company has lost market share.</p>
<p>Challenges also loom in China, where Nokia’s market share has remained low despite the company recently securing an important 5G deal with key operator China Mobile</p>
			<div style="padding-bottom:15px;" class="wordads-tag" data-slot-type="belowpost">
				<div id="atatags-dynamic-belowpost-68ecc7492c82a">
					<script type="text/javascript">
						window.getAdSnippetCallback = function () {
							if ( false === ( window.isWatlV1 ?? false ) ) {
								// Use Aditude scripts.
								window.tudeMappings = window.tudeMappings || [];
								window.tudeMappings.push( {
									divId: 'atatags-dynamic-belowpost-68ecc7492c82a',
									format: 'belowpost',
								} );
							}
						}

						if ( document.readyState === 'loading' ) {
							document.addEventListener( 'DOMContentLoaded', window.getAdSnippetCallback );
						} else {
							window.getAdSnippetCallback();
						}
					</script>
				</div>
			</div>
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
