Finnish telecom network equipment maker Nokia reported a surprise quarterly loss...
HELSINKI - Finnish telecom network equipment maker Nokia reported a surprise quarterly loss on Thursday, citing hard competition in its core networks business.
Having signaled back in January “a particularly weak Q1”, Nokia reported a fall to an operating loss of 59 million euros from a profit of 239 million euros in the first quarter a year ago. The networks industry - dominated by Nokia, Sweden’s Ericsson and China’s Huawei - has been battered by years of slowing demand since 4G network sales peaked in the middle of the decade.
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