FI:NOKIA – The News Desk

Nokia Cuts Operating Margin Guidance Amid Challenging Market

12Dec

By adminNo Comments

World

Nokia Cuts Operating Margin Guidance Amid Challenging Market

Nokia cut its operating margin guidance as market conditions in its mobile networks business remain challenging, with operator spending falling and a normalization in India after a period of rapid 5G deployment.The Finnish telecom equipment maker said Tuesday that it now targets a comparable operating margin target of at least 13% by 2026, from at least 14% previously.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

AT&T Drops Nokia for Ericsson in $14 Billion Deal

Updated Dec. 4, 2023 6:22 pm ETAT&T struck a deal with Ericsson to buy up to $14 billion of its hardware and services after the Swedish equipment supplier pledged to open up its software to competing systems.The five-year agreement would move virtually all of AT&T’s new purchases of certain cell-tower equipment to Ericsson, replacing existing machinery from Finnish rival Nokia in many markets. The Dallas-based telecom giant said it plans to start the swap next year and aims to have 70% of its wireless network traffic passing through open platforms by late 2026.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Nokia to Slash Up to 14,000 Jobs as Telecom Operators Cut Spending

Updated Oct. 19, 2023 7:41 am ETNokia said it plans to cut up to 14,000 jobs as the telecommunications-equipment maker wrestles with a sharp downturn in spending by telecom operators.The Finnish company said Thursday it would shrink its workforce to between 72,000 and 77,000 by 2026, from 86,000, depending on how market demand evolves. The cuts are part of an effort to generate annual cost savings of up to 1.2 billion euros, equivalent to $1.26 billion.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8