Nokia Adjusts Sales Projections as Market Weakness Impacts Growth

Thursday, 18 July 2024, 10:33
Nokia's recent announcement of cutting its sales outlook across various business units has sent ripples in the financial world, with its stock price taking a significant hit. The downward revision has been attributed to subdued demand for 5G equipment, leading to a 7% drop in share value. This move highlights Nokia's struggle to meet previous growth expectations amidst ongoing market challenges.
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Nokia Adjusts Sales Projections as Market Weakness Impacts Growth

Nokia Revises Sales Forecast

Nokia recently announced a downward revision in its sales forecast across business units.

Market Weakness

The company cited weak market conditions as a primary factor influencing the decision.

  • 5G Equipment Demand: Subdued demand for 5G equipment has led to the sales outlook adjustment.

The stock price of Nokia fell by 7% following the forecast revision.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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