HELSINKI (AP) — Nokia says its second-quarter earnings slumped as clients were not willing yet to increase spending on the faster but more expensive new generation of mobile networks and are seeking price cuts.
The Finnish maker of telecommunications gear said Thursday that its net profit for the April-June period came in at 144 million euros ($169 million), down from 449 million euros a year earlier. Sales fell 6 percent to 5.3 billion euros.
Startup event in Finland puts spotlight on European tech
HELSINKI (AP) — One of Europe's largest startup events opened Thursday in Finland, with 2,600 companies and 1,500 investors networking and negotiating funding, as the region looks to ramp up an industry that has long struggled to compete with the tech giants of the U.S.
The two-day Slush conference in Helsinki brought in star power to promote itself, including former U.S. Vice President Al Gore to kick off the event as well as Britain's Prince William.
Nokia loss widens, sales down amid weak networks demand
HELSINKI (AP) — Nokia has reported a net loss for the third quarter amid a 7 percent drop in revenue as global demand for networks and telecommunications equipment remained weak.
The Finland-based networks operator said Thursday its net loss was 192 million euros ($227 million) compared to 119 million euro loss a year earlier on sales of 5.5 billion euros in the July to September period.
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- Globe NewswireNOK DEADLINE: Pawar Law Group Reminds Investors of Deadline in Securities Class Action Lawsuit Against Nokia Corporation – NOKMay 22, 2019
- Globe NewswireBragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Whitestone, Fusion, Nokia, and Sprint and Encourages Investors to Contact the FirmMay 22, 2019
- Globe NewswireSHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Nokia Corporation of Class Action Lawsuit and Upcoming Deadline – NOKMay 20, 2019