Nokia sees improved Q3 profit but reports 8% sales dip mainly due to weaker India market

Wireless and fixed-network equipment maker Nokia on Thursday reported better-than-expected third quarter earnings, mainly on the back of cost-cutting measures, but saw its sales dive 8% largely due to a weaker India market. Similar to its Nordic rival Ericsson of Sweden, Nokia has suffered this year and last year from operators cutting back on investments in 5G and other telecom technology because of economic uncertainty and high financing costs. Commenting on Nokia’s performance in the third quarter, CEO Pekka Lundmark said “I am optimistic we are now turning the corner in many parts of our business, even if some continue to experience market weakness.”