The Finnish company on Thursday cut its profit outlook for this year and next, and suspended a dividend payout. Nokia shares fell the most in 19 years. Nokia is wary of copying this strategy, which has gone wrong for its Swedish rival in the past after the long-term revenue didn’t appear. Nordea Bank analyst Sami Sarkamies reckons Nokia simply lags behind Ericsson technologically. ADADThursday’s share price decline has erased more than 5 billion euros ($5.6 billion) of Nokia’s market value, leaving it capitalized at 21 billion euros.

Source: Washington Post October 24, 2019 12:00 UTC