 "Nokia reports profit in Q1, miss revenue estimates due to Covid-19 pandemic")
Nokia Oyj on Thursday reported a 2% fall in first-quarter revenue that missed analysts' estimates, as the company took a hit of about 200 million euros to its topline largely because the Covid-19 pandemic disrupted supply in China. It, however, eked out a small profit backed by good demand for its new 5G telecoms equipment.
The Finnish company, battling with China's Huawei and Sweden's Ericsson, is trying to strengthen its 5G slate and looking especially to deployment by US telecom companies for growth.
Nokia reported January-March revenues of 4.9 billion euros ($5.33 billion), missing the 5.1 billion euro consensus figure,
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