Nokia slashes profit outlook in fight for 5G business, stock drops 21%

  • 📰 Reuters
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Finland's Nokia slashed its 2019 and 2020 profit outlook on Thursday, sayin...

) slashed its 2019 and 2020 profit outlook on Thursday, saying profits would come under pressure as the company spends more to fend off rivals in the fast-growing 5G networks business.

The telecom network equipment maker, which met third-quarter profit expectations, also said it would pause dividend payments to raise investments in 5G and only resume them when its cash position improves to around 2 billion euros. Nokia shares plunged 21% to 3.72 euros in morning trade as the company said key customers in its biggest 5G market — North America — were limiting spending due to proposed mergers. Nokia shares are down 30% this year.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Exactly what Samsung wants, as dreynders and Mofa_Belgium give diplomatic immune cover to all samsung illegal practices. Nokia slashes profit outlook, stock drops 21%, cuts away competition from MariaOhisalo regions

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

German earnings boost European stocks; Nokia shares diveEuropean shares gained on Thursday as upbeat results from German companies offse... Did t Trump just toot Nokia’s horn in the WH not too long ago? Lol Biz Have you Pre-ordered your copy yet? Do it now. Don't be left out. TRIGGERED: How the Left Thrives on Hate... by Donald Trump Jr. Retweet this if you see it. Don't pass. Biz Our mission at is to build the social news network that ends fake news. Follow us Overlooked_Inc
Source: Reuters - 🏆 2. / 97 Read more »