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Nokia sees 'challenging' 2024 after profits plunge
Finnish telecommunications equipment manufacturer Nokia issued a cautionary statement on Thursday, anticipating challenging economic conditions in the initial half of the current year following a significant decline in its net profit throughout 2023. In response to reduced customer spending amidst a global economic slowdown, both Nokia and its Swedish counterpart, Ericsson, have initiated cost-cutting initiatives.
Finnish telecommunications equipment manufacturer Nokia issued a cautionary statement on Thursday, anticipating challenging economic conditions in the initial half of the current year following a significant decline in its net profit throughout 2023. In response to reduced customer spending amidst a global economic slowdown, both Nokia and its Swedish counterpart, Ericsson, have initiated cost-cutting initiatives. 
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