Having signal­led back in Januar­y “a partic­ularly weak Q1”HELSINKI: Finnish telecom network equipment maker Nokia reported a surprise quarterly loss on Thursday, citing hard competition in its core networks business. Having signalled back in January “a particularly weak Q1”, Nokia reported a fall to an operating loss (non-IFRS) of 59 million euros ($66 million) from a profit of 239 million euros in the first quarter a year ago. Nokia launches smartphone with five rear camerasThat compared with analysts’ profit expectations ranging from 175 million euros to 457 million in a Reuters poll. Nokia repeated its January forecasts for “flattish” market in 2019, and for its 2019 earnings per share of 0.25-0.29 euros, and 2020 EPS of 0.37-0.42 euros. “Competitive intensity could increase in some accounts as some competitors seek to take a share in the early phases of 5G,” Nokia said.

Source: The Express Tribune April 25, 2019 07:22 UTC