Nokia sees improved 3Q profit, sales on strong demand for 5G

HELSINKI (AP) — Wireless and fixed-network equipment maker Nokia has reported substantially improved third-quarter profits and higher sales on the back of strong demand for 5G technology from operators. The company based in Espoo, Finland, on Thursday reported net profit of 551 million euros ($539 million) for the July-September period. That’s a 19% increase from a year earlier. Nokia says its net income attributable to shareholders was up 21% at 550 million euros. The company’s reported sales were up 16% to 6.2 billion euros. CEO Pekka Lundmark said that while economic and geopolitical uncertainty “could have an impact” on customer spending next year, Nokia still expects growth on a constant currency basis.