Logged-out Icon

Nokia’s Sales Surge 16% in Q4, Beating Estimates

Nokia announced its quarterly profit and it surpassed expectations as the company is receiving big contracts from Indian telecom operators for the launch of 5G


Wireless and fixed-network equipment maker Nokia announced strong quarterly results on 26th Jan. The reports show that Nokia’s sales went up 16% to 7.45 billion euros, beating estimates of 7.11 billion. And the operating profit rose to o 1.15 billion euros ($1.26 billion) from 908 million last year, beating the 924.6 million euros estimation. 

CEO Pekka Lundmark issued a statement saying the reason behind the stellar performance is because of the company’s network infrastructure business unit, which recorded 14% revenue growth. 

“Our target is to take market share and I believe that is exactly what is happening right now,” Lundmark said in a statement. “We said at the start of 2022 that it would be a year of acceleration, and we delivered what we promised,” Lundmark said. “The Nokia team did a great job navigating geopolitical, economic, and supply challenges, successfully executed our strategy, and delivered a strong full-year performance.”

Company’s Chief Executive Pekka Lundmark also said in a statement that

“Looking forward to 2023. While we are mindful of the uncertain economic outlook, demand remains robust,” 

Nokia has been experiencing growing demand from customers and is also getting big contracts from Indian telecom operators for the launch of 5G. The company is also set to launch joint initiatives with Samsung through a multi-year patent licensing deal. 

On the other hand, Ericsson reported lower-than-expected fourth-quarter core earnings citing weak sales of 5G equipment in markets such as the United States.

This website uses cookies to ensure you get the best experience on our website