{"id":108496,"date":"2017-07-27T04:58:12","date_gmt":"2017-07-27T08:58:12","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=108496"},"modified":"2017-07-27T04:58:12","modified_gmt":"2017-07-27T08:58:12","slug":"nokia-reports-loss-warns-of-decline-in-networks-industry","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/07\/27\/nokia-reports-loss-warns-of-decline-in-networks-industry\/","title":{"rendered":"Nokia reports loss, warns of decline in networks industry"},"content":{"rendered":"<figure id=\"attachment_108500\" aria-describedby=\"caption-attachment-108500\" style=\"width: 300px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/07\/Nokia_wordmark.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-108500\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/07\/Nokia_wordmark-300x51.png\" alt=\"Nokia logo (Photo By Nokia Corporation - Nokia Corporation, Public Domain)\" width=\"300\" height=\"51\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/07\/Nokia_wordmark-300x51.png 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/07\/Nokia_wordmark.png 313w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-108500\" class=\"wp-caption-text\">Nokia logo (Photo By Nokia Corporation &#8211; Nokia Corporation, Public Domain)<\/figcaption><\/figure>\n<p>HELSINKI \u2013 Nokia continued to be hit by a decline in its core networks sector in the second quarter with almost flat sales, and cautioned Thursday that a weakening in networks would be greater than previously expected.<\/p>\n<p>The Finland-based networks company, however, managed to trim net loss in the period to 423 million euros ($493 million) from 667 million euros a year earlier. Sales in the quarter grew 1 per cent from 2016 to 5.6 billion euros.<\/p>\n<p>Networks sales fell 5 per cent to 4.9 billion euros with an 8 per cent decline in the broadband sector.<\/p>\n<p>CEO Rajeev Suri said he was pleased with the overall result, but that \u201cheadwinds\u201d had caused problems in the period and he predicted a further fall in networks.<\/p>\n<p>\u201cWe now expect a decline in the market in the range of 3 to 5 per cent, versus our earlier view of a low-single-digit decline,\u201d Suri said in a statement. \u201cWe expect our networks sales to perform in line with the market.\u201d<\/p>\n<p>He said he was \u201cconfident of an operating margin of 8 to 10 per cent\u201d in networks in the full year.<\/p>\n<p>In May, Nokia signed a patent license and business collaboration agreement with Apple, settling all litigation between the companies, which helped the second-quarter earnings from technology patents grew by 90 per cent to 175 million euros, which Suri described as an \u201cexcellent performance.\u201d<\/p>\n<p>\u201cWe look forward to continuing to expand our overall business with Apple in the coming months,\u201d he said.<\/p>\n<p>Nokia shares were up 3 per cent at 2.47 euros in morning trading in Helsinki.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HELSINKI \u2013 Nokia continued to be hit by a decline in its core networks sector in the second quarter with &hellip;<\/p>\n","protected":false},"author":33,"featured_media":108500,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,5,17],"tags":[2423],"class_list":["post-108496","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-technology","category-news-w","tag-nokia","mauthors-matti-huuhtanen","mauthors-the-associated-press"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/108496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=108496"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/108496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/108500"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=108496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=108496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=108496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}