Nokia sees tough competition in market for 5G networks
HELSINKI (AP) — Telecoms gear maker Nokia reported Thursday a surprise first-quarter loss amid tougher competition for the new, superfast wireless 5G networks that are expected to increase in business this year. The company, based in Espoo, Finland, said its net loss for the January-March period was 116 million euros ($130 million), against profit of 83 million euros a year earlier. Sales rose 2% to 5 billion euros. CEO Rajeev Suri said revenues from the faster but more expensive 5G networks were expected to "grow sharply" in the second ...
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