Nokia sees 1Q working income down 18%, gross sales up 1%

COPENHAGEN, Denmark (AP) — Wireless and fixed-network tools maker Nokia on Thursday reported first-quarter working income of 354 million euros, down 18% from a 12 months in the past.

The Espoo, Finland-based firm stated web gross sales within the first quarter grew 1% in fixed foreign money to five.348 billion euros.

CEO Pekka Lundmark stated that Q1 “was a strong start for the year both in terms of net sales and profitability.”

Nokia was “shocked” by Russia’s invasion of Ukraine and stated earlier this month that “it will exit the Russian market “in a responsible way and aim to provide the necessary support to maintain our customers’ networks, as we exit.”

Nokia has suspended deliveries, stopped new enterprise and moved analysis and growth actions out of Russia which accounted for lower than 2% of Nokia’s gross sales in 2021. The Finnish Telecoms community and 5G know-how provider stated the exit can have no influence on its monetary outlook this 12 months.

“The demand environment remains strong and while supply chain and inflation challenges remain, we are confident we can deliver our 2022 outlook and continue to make good progress towards our long-term targets,” Lundmark stated in an announcement.

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