a year ago

Nokia reports strong growth in 2022

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Finnish telecommunications equipment maker Nokia has reported strong growth in 2022, with its quarterly operating profit exceeding market expectations.

The company's operating profit in full-year 2022 increased by 12 per cent to 3.1 billion euros, compared to 2.8 billion euros in 2021, its financial report for Q4 and full year 2022 showed on Thursday.

"One of our strategic priorities is to broaden our customer base and grow in Enterprise and I'm delighted we achieved 21 per cent net sales growth in constant currency for the full year with 49 per cent growth in Q4," CEO Pekka Lundmark said in the report.

The company's notable growth in Q4 was believed to be driven mainly by a strong market demand for mobile networks and network infrastructure, reports Xinhua.

"Looking forward to 2023, while we are mindful of the uncertain economic outlook, demand remains robust. We expect another year of growth," Lundmark said.

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