HELSINKI: Finnish network equipment maker Nokia reported its quarterly profits fell less than expected, helped by cost cuts and the acquisition of Alcatel-Lucent, and said the tough global market was starting to stabilise. Nokia said that while it expected the global networks market to fall around 2% this year, it saw opportunities in markets such as North America, India and Japan. Although the market will decline this year, price pressure will ease,” said Inderes analyst Mikael Rautanen with an “accumulate” rating on the stock. In full-year 2016, the networks margin was 8.9%, and for this year Nokia expects a margin of between 8% to 10%. Last month, Nokia’s name returned to the smartphone market as HMD Global – a new company ran by former Nokia executives – launched new Nokia handsets under a licensing deal.

Source: The Star February 03, 2017 00:11 UTC