Nokia shares rose 9.4% on the stock market14. 07. 2021 Wednesday / By: Robert Denes / Business / Exact time: BST / Print this page
N okia shares (NOK) rose 9.4% on Tuesday after telecoms giant Nokia Finn announced it would revise its previous 2021 guidelines. In a press release, Nokia says it “continues to see the business as strong” in the second quarter, with Nokia shares rising 9.5% yesterday and closing at 5.88 on the stock market.
Earnings are on top of stellar performance so far as equities far outperform broader market averages. You read yesterday that Nokia is expected to provide fresh financial guidance on July 29 which forecasts full-year sales to be in the range of $ 24.4-25.72 billion to USD. Nokia shares compete with Ericsson in Sweden and Huawei Technologies in China. Network device manufacturers only have a few 5G kits that can be viewed and purchased. A possible increase in Nokia’s stock stems from the China Mobile contract, in which Nokia can win part of China Mobile’s contract.
In the U.S., Ericsson won additional 5G wireless deals from Verizon Communications (VZ) last year to the detriment of Nokia. However, Dish Network (DISH) recently chose Nokia because of its 5G wireless network infrastructure. The news comes as Nokia pursues a healthy upgrade cycle with the expansion of 5G networks. The company strongly presented its first-quarter earnings report, which showed a pick-up in demand for the network infrastructure business and mobile network segments.Via Link