(Reuters) -Finnish telecom tools maker Nokia (HE:) stated on Thursday its working revenue fell 32% within the second quarter, as demand for 5G telecom tools remained weak.
Its comparable working revenue fell to 423 million euros ($462.38 million), from 619 million euros in the identical quarter a yr earlier.
Nokia and its Swedish rival Ericsson (BS:) have each been hit by prospects shopping for much less telecom tools.
“Our financial performance in the second quarter continued to be impacted by the ongoing market weakness with net sales
declining 18% year-on-year in constant currency,” CEO Pekka Lundmark stated in a press release.
He stated nevertheless that gross sales ought to enhance within the second half, helped by Nokia’s order consumption notably within the Networks division.
The corporate stored its full-year outlook.
($1 = 0.9148 euros)
