Nokia appears to be profiting from Huawei 5G bans
Nokia posted earnings on Thursday and the figures indicate bans of Huawei’s 5G equipment has increased demand for alternatives.
Over the fourth quarter, Nokia’s profits reached £652 million ($852 million) from £629 million ($822 million) a year earlier. Sales grew three percent to £6 billion ($7.8 billion).
While the growth is not huge, it’s above analyst predictions. This indicates the bans and uncertainty surrounding Huawei 5G equipment is giving Nokia a boost.