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‘No profit on sales of mobile infrastructure’ says Nokia CEO Sign in with LinkedIn
17 December 2020 | Alan Burkitt-Gray Nokia is making no profit on its mobile infrastructure sales and 2021 “will be challenging”, CEO Pekka Lundmark has admitted.
In a forthright presentation about what the company called its “refreshed strategy” after he replaced Rajeev Suri in mid-2020, Lundmark (pictured) said that Nokia’s Alcatel Submarine Networks (ASN) was “turning to profitability”.
He promised he and CFO Marco Wirén will give more details on the company’s capital markets day, set for 18 March 2021. The full-year results are due on 4 February.
Nokia is being divided into four groups, mobile networks, network infrastructure, cloud and network services, and technology, he said, with a “lean corporate centre, which will include a strategy and technology organisation that will “continually challenge the four business groups about what is possible”.