Nokia sales hit lowest since 2015 as 5G slump persists

Nokia and its Nordic competitor Ericsson have faced a dismal telecom equipment market for years with few signs that mobile operators are going to invest big in 5G equipment

Revenue in the period was the lowest since the end of 2015, before Nokia acquired Alcatel-Lucent for €10.6bn

Nokia Oyj sales between April and June of this year were the lowest of any period since 2015 and missed analyst estimates as weak investment in mobile network upgrades continues to hobble the 5G equipment market.

Net sales declined 18% to €4.47bn in the three months ending in June from a year earlier, the Espoo, Finland-based company said in a statement on Thursday. That compares to an average €4.76bn forecast by analysts surveyed by Bloomberg.