On October 20, 2022, Nokia Corp., a manufacturer of wireless and fixed network equipment, announced a third-quarter net profit that exceeded expectations due to continued demand for mobile networks and network infrastructure as well as the easing of supply-chain bottlenecks. Due to strong demand from operators for 5G technology, Nokia announced significantly higher profit and revenue for the third quarter. There was an increase in the total revenue and net profit of Nokia Corp in 2022 over that in 2021, according to GlobalData.
After recording robust sales in North America during the quarter, as well as an increase in sales in Europe, Latin America, and Greater China, Nokia stated that it intends to generate sales growth in mobile networks on a constant-currency basis in 2022.
Along with Huawei of China, Samsung of South Korea, Ericsson of Sweden, and other major manufacturers, Nokia is one of the top global suppliers of 5G, the most recent generation of broadband technology. The Finnish company recently finalized two significant 5G agreements with Bharti Airtel and Reliance Jio, two major telecom operators in India.
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