One of the world’s largest telecommunications equipment makers, Nokia has been facing headwinds from a slowing global economy and from infrastructure spending reductions made by mobile operators.

Sales from Nokia’s biggest unit by revenue, its mobile networks business, declined 24% year-on-year to 2.16 billion euros, with operating profit for the division diving 64% year-on-year.

This, Nokia said was mainly driven by declines in North America.
The company also described sale volumes in India as “moderated,” as 5G deployments “normalize.

5G is next-generation mobile internet that promises faster speeds.