Nokia flips back into profit

Nokia’s shares shot more than 14% higher approaching midday in Helsinki, where the market was up 2.4% overall. – EPA pic, July 31, 2020.

FINNISH telecommunications equipment provider Nokia said today it had returned to profit in the second quarter and hiked its 2020 forecasts, despite a drop in sales due to the coronavirus pandemic.

Net profit came in at €94 million (RM472 million) compared to a loss of €193 million during April-June last year.

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