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Nokia’s Q3 sales decline shows it needs new markets well before 5G

While the markets saw some small green shoots in Ericsson’s third quarter results, it was harder to find any joy in Nokia’s figures (though the expectations did start higher). In the quarter, sales fell by 7% year-on-year to €5.537bn, with the flagship business unit, Ultra Broadband Networks, taking a 17% hit. The Networks division as a whole, which accounts for over 90% of revenues, reported a 9% decline to €4.823bn, with its operating profit down 23% to €334m. Nokia made a net loss of €192m, compared with a year-ago loss of €119m. This was partly because of a €141m impairment charge related to changes in its digital health business. Though this has often been held up as a strategic growth…

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