Nokia Shares Down As It Misses Profit Expectations

Nokia on Thursday reported quarterly operating profit below market expectations even as the Finnish telecom equipment maker continues to benefit from strong demand from phone companies as they roll out 5G.

Nokia shares down as it misses profit expectations

They have dropped 17 per cent since early June, hit by a series of brokerage downgrades. The share price reflects concerns about Samsung's handset margins, with its mobile business generating 70 per cent of the tech giant's total profit.