Nokia posts 20% drop in sales in first-quarter as telecoms slash Capex

Nokia has reported 20 percent drop in revenue to 4.667 billion euro during the first quarter of 2024 as telecom operators slashed Capex.
Nokia Technologies sales increased by 216 percent benefiting from catchup net sales related to licensing agreements made with smartphone vendors.

Nokia’s Network Infrastructure sales declined 26 percent compared to a strong Q1 2023 and as it continued to experience weaker demand largely related to macroeconomic uncertainty.

Nokia’s Mobile Networks sales decreased 37 percent largely driven by India as 5G deployments continued to moderate after significant investment in the first half of 2023 and by North America, where demand remained weak.

Nokia’s Cloud and Network Services net sales decreased 13 percent.

In Q1 2924, Nokia has generated sales of 173 euro million from Latin America, 1,031 euro million from North America, 243 euro million from Greater China, 265 euro million from India, 439 euro million from Rest of APAC, 1,833 euro million from Europe, 460 euro million from Middle East & Africa and 223 euro million from Submarine Networks.

Baburajan Kizhakedath