Both Nokia and Ericsson underperformed expectations in Q3 2023, prompting a downward spike in stock price – resulting in each case from a steep decline in North America, partially offset by the rapid 5G roll out in India. Results were also depressed slightly by a continuing slower-than-anticipated 5G roll out in some key European markets. The quarter was a rare example in recent times of the Nordic duo’s performance being well aligned, having often been out of step for various reasons relating to business and customer procurement cycles. This comes at a time when the pair’s biggest rival Huawei has largely recovered from the turmoil and disruption caused by US technology sanctions and moves to eliminate the company from 5G…