Nokia is making steady, if unspectacular, quarter-by-quarter progress in its turnaround, after the serious 5G setbacks of 2019, that has led to a change of CEO and serious reworking of the business under new chief Pekka Lundmark. The improvements in financial KPIs are certainly affecting Nokia’s market valuation, which has risen by 67% since the start of this calendar year to €30bn (the share price was €5.30 on results day). But Lundmark was characteristically undemonstrative on the analyst call to discuss the Q2 figures, warning of challenges ahead. He said in his statement: “We have executed faster than planned on our strategy in the first half which provides us with a good foundation for the full year. We still however…