Nokia Projects Stronger Second Half Despite Q1 Sales Decline

Nokia anticipates a rebound in business for the latter half of 2024 following a significant drop in first-quarter sales, driven by decreased demand for 5G technology.

Nokia reported a 20% decline in Q1 sales, citing reduced spending in North America and India on 5G technology.
Despite the downturn, the company forecasts a recovery in network infrastructure sales and aims to meet its full-year profit outlook.
Nokia's comparable operating profit for Q1 grew less than expected, but improvements in order intake bolster confidence for H2.
The telecom giant's ADRs saw a 2.9% increase in intraday trading, reflecting investor optimism.
Nokia and its Nordic rival Ericsson both predict stronger sales in the second half of 2024, despite current market challenges.