Nokia losses were estimated at 632 million dollars
According to the figures, the company recorded a fall in earnings valued at 1% during the first half of the year
The Finnish telecommunications equipment company Nokia recorded a net loss of 632 million euros in the first half of 2019, which is equivalent to a 1.1% improvement over the red numbers recorded in the same period of the previous year, as reported by the company.
Between January and June, Nokia’s net turnover grew by 5%, to 10,726 million euros. Concerning business segments, the telecommunications network division advanced 6%, to 8,336 million euros, while the software area entered 1,221 million euros, 6% more. The technology business rose 4%, to reach 753 million euros.
On the expense area, the costs associated with sales rose at a faster rate than revenues (+ 7.7%), reaching 7,080 million euros. The research and development (R&D) division decreased 2.1%, to 2,282 million euros, while general and administrative expenses stood at 1,587 million euros (-4.4%).
“Nokia has achieved a solid second quarter, led by the demand for 5G, a competitive portfolio and a strengthened operational execution,” said the president and CEO of the Finnish company, Rajeev Suri, but also warned that the ” risks “for this exercise, such as commercial uncertainty or the challenges in the Chinese market.
Between April and June, Nokia’s net losses were 191 million euros, 30% less than in the second quarter of 2018, after a 7% increase in turnover, to reach 5,694 million euros.