Since then, the Finnish company has mainly focused on network infrastructure. It sells equipment that enables fast mobile connections. It is in that market that Nokia is now having problems.
Many operators are postponing major investments in 5G technology. This technology makes it possible to send data wirelessly very quickly. It costs a lot of money and so many telecom companies are keeping their fingers on the money in these economically uncertain times.
Nokia feels that firsthand. The company announced disappointing figures and decided to drastically cut costs. 14,000 jobs are threatened. That equates to about 16 percent of Nokia’s workforce.
2023-10-19 07:11:00
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