HELSINKI: Wireless and fixed-network equipment maker Nokia reported substantially improved third-quarter profits and higher sales on Thursday on the back of strong demand for fifth-generation (5G) technology from operators. The company, based in Espoo, Finland, reported a net profit of 551 million euros ($539 million) for the three months ending September, up 19 percent from 463 million euros a year earlier. Net income attributable to shareholders rose 21 percent to 550 million euros from 454 million euros. Reported sales jumped 16 percent to 6.2 billion euros. Nokia is one of the world's main suppliers of 5G — the latest generation of broadband technology — along with Sweden's Ericsson, China's Huawei and South Korea's Samsung.

Source: Manila Times October 21, 2022 05:18 UTC