Suri steps down after more than a decade in charge of Nokia and Nokia Siemens Networks. To verify, just follow the link in the messageCopyright © 2020 Bennett Coleman & Co. Ltd. All rights reserved. Though the company warned it was expecting to lose some market this year, it gave an upbeat outlook for its main network business and lifted its profit and cash flow guidance for full year 2020.

Finnish telecom network equipment maker Nokia reported an unexpected rise in its second-quarter underlying profit on lower revenues on Friday, as it reduced low-margin business before a new chief executive takes charge. Ericsson had reported a rise in 5G network sales and software revenue two weeks ago. Quarterly revenue fell 11per cent to 5.09 billion euros, below a consensus figure of 5.28 billion, Refinitiv Eikon data showed. Nokia has reported better than expected second-quarter earnings on the back of improved margins for telecoms equipment and software despite the coronavirus crisis causing a substantial drop in revenue Ericsson had reported a rise in 5G network sales and software revenue two weeks ago. HELSINKI -- Nokia has played catch up with Huawei and Ericsson in the 5G business, which has become increasingly politicized amid the U.S.-China rift, and industry observers say one of Lundmark’s immediate priorities is to review the company’s strategies.

Friday marked the last day as a CEO for Suri, a Nokia veteran with 25 years in service and the head of the company since 2014, as his appointed successor Pekka Lundmark takes over on Aug. 1.

Advertisement. In May, Sari Baldauf was named as the company’s new chair. Sales were down 11% at 5.1 billion euros. Profitability gains in the quarter were supported by a 4.5 percentage point year-on-year improvement in Networks gross margin, building on a 3.5 percentage point gain in the first quarter, and driving Nokia non-IFRS gross margin to 39.6%. Nokia profit up despite pandemic as new CEO takes overNearly two-thirds of Americans disapprove of Trump's handling of crises: POLL Coronavirus updates: Florida reports 4th day of record deathsAuthorities break up alleged sex party in crackdown on gatherings amid coronavirusFauci: Wear goggles or eye shields to prevent spread of COVID-19 Advertisement Nokia has reported better than expected second-quarter earnings on the back of improved margins for telecoms equipment and software despite the

“We expect that the majority of sales missed in the (second) quarter due to COVID-19 will shift to future periods,” Suri said. Nokia Networks (formerly Nokia Solutions and Networks (NSN) and Nokia Siemens Networks (NSN)) is a multinational data networking and telecommunications equipment company headquartered in Espoo, Finland, and wholly owned subsidiary of Nokia Corporation.It started as a joint venture between Nokia of Finland and Siemens of Germany known as Nokia Siemens Networks. The top 10 competitors in Nokia's competitive set are Huawei, Ericsson, ZTE, Samsung, Juniper Networks, Cisco, Ciena, Adtran, Calix and Motorola Mobility. We have sent you a verification email. Together they have raised over 1.5B between their estimated 807.0K employees. The Espoo, Finland-based maker of new-generation 5G mobile and other networks said Friday that its net profit for the April-June period was up 22% at 316 million euros ($376 million). Last year, Nokia generated 78% of its revenue from its Nokia Networks business, 12% came from Nokia Software, another 6% came from Nokia Technologies, and …

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