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Nokia shares plunge on lower earnings forecast

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AFP Helsinki
Last Updated : Oct 24 2019 | 4:25 PM IST

Shares in Nokia tumbled 20 per cent on Thursday after the Finnish telecommunications equipment maker cut its earnings forecast in the face of intense competition to build the latest 5G mobile networks.

While returning to profit in the third quarter, the company said it was downgrading its expectations for earnings and margins for this year and 2020 "due to margin pressure, additional 5G investments and additional digitalisation investments."

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First Published: Oct 24 2019 | 4:25 PM IST

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