The company explained in data on Thursday that its net profits rose by 32 percent in the third quarter, recording 175 million euros (about 190 million dollars), but sales decreased due to the slowdown in activities in the country. India.
Sales reached Nokia 4.3 billion euros ($4.7 billion), down eight percent compared to last year, and lower than the expectations of analysts surveyed by Bloomberg.
The company said that sales growth was affected by slowing growth in mobile networks mainly in India, in addition to the company’s exit from cloud computing and networking services.
Nokia CEO, Pekka Lundmark, said in a statement that profits rose by 32 percent to 175 million euros, “driven by the new products that the company introduced in its regional markets, as well as the company’s efforts to reduce product costs.”
The company maintained its operating profit forecast of between 2.3 billion and 2.9 billion euros, although the recovery in net sales “is occurring more slowly than we expected,” Lundmark said.
Atti Riekkola, an analyst at Finnish market research company Enders, told AFP that Nokia’s earnings development was roughly in line with expectations, with some exceptions.
