Reuters

Nokia lifts full-year outlook as turnaround takes root

HELSINKI/STOCKHOLM (Reuters) -Nokia on Thursday raised its full-year outlook after reporting a stronger-than-expected second-quarter operating profit, as the telecom equipment maker benefits from a sharp turnaround in its business. A round of changes in the company’s operations, greater investment on research and a geopolitical situation tilting in its favour has put Nokia firmly back in the global 5G rollout race just a year after CEO Pekka Lundmark took the reins, allowing it to gain ground on Swedish arch-rival Ericsson. “Our 5G position has clearly strengthened … we are winning back customers,” Lundmark said on a call, confirming a rosier outlook first signalled in February.

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