Nokia (NYSE: NOK), headquartered in Espoo, Finland, bolstered its position as a leading global communications equipment supplier with double digit top line growth in 2022. Consolidated sales grew 12 percent year-over-year to $27 billion, and operating profit grew 9 percent to $2.5 billion. During 2022, Nokia invested $4.9 billion or 18 percent of sales in research and development. For 2023, the company is projecting sales of $27-29 billion with operating margins in the 11.5-14 percent range.
Pekka Lundmark, Nokia President and CEO comments, “As we look into 2023, even as some developed markets, like North America, mature, other markets, like India, are just starting to ramp up. So, we see the addressable markets for Mobile Networks continuing to grow. With the recent deals won, we believe we are in a strong position to outperform the market.” Continue Reading |
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