The once Finnish manufacturer officially published financial results for the second quarter of the year.
This is a significant increase from 99millions of euros recorded during the same period a year ago. Nokia also boasts a 4% increase in sales and has now reached 5.3 billion euros, which exceeds initial expectations.
Good results even made the companyupdate your forecasts for the second half of the year. Nokia expects to achieve record sales of 22.7 billion euros in 2021. This is 1 billion euros more than the previous forecast of the company for the year.
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Estimates Show COVID-19 Pandemic Has Reducedthe company's revenues in the second quarter of about 500 million euros. The impact of the crisis on Nokia is not expected to be as significant in the coming quarters. Smartphone premieres and Nokia's growing share of 5G telecom equipment are paramount to the company's bottom line.
Competition with Huawei and Ericsson in the network segment5G will still be pretty tough. Nokia is also preparing several new Android smartphones that will be important for the company's position in the industry.
Source: Reuters
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