On Friday, the Finnish telecommunication gear group, Nokia, declined in its pre-market session and lowered its full-year outlook.
Its stock price rose by 1.64% to $4.35 per share on Thursday. However, it decreased by -9.34% to $3.94 apiece in pre-market hours.
Nokia reported its second quarter sales worth $6.40 billion on July 14 and a similar 11.00% operating profit margin. The company is scheduled to release its full Q2 earnings report on July 20.
Its 2023 sales hit $26.10 to $27.60 billion, higher than the $24.60 to $26.20 billion from last year. Also, it shrunk its operating margin range guidance to 11.50% to 13.00% from 11.50% to 14.00% previously.
According to the firm, the changes are linked to its network infrastructure and mobile networks business groups.
On the other hand, the Swedish rival of Nokia, Ericsson announced its second-quarter financial results, slightly higher than expected. However, it experienced a slowdown in its consumer spending, which affected its telecom gear sales.
In addition, concerns about an imminent recession pushed businesses to have lower budgets and pause upgrades. As a result, it hurt telecommunication firms like Nokia and Ericsson regarding widespread 5G adoption and broadband connections.
Moreover, Ericsson’s decline was led by a slowdown in spending on operator clients, especially in North America. Also, it said that the growth in India brought balance.
Android Build Upgrade for Nokia
A new Android 13 Build is coming for the Nokia XR20 5G, available on their June security update.
Users can download the update by finding it in their settings and going to the system updates section. Its size is up to 102 MB. Also, the official changelog mentioned that there will be generic UI enhancements and better stability.
In another sector, Nokia and Budapest Internet Exchange (BIX) announced a successful launch of the telecom company’s routing platforms. These will be used for BIX spine router network improvements and high-speed enhancement.
Furthermore, Nokia’s system design innovation and the Service Router Operating System ensure better network speed.
