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Nokia plans more cost-cutting as Q2 sales slide 11%
2016-08-04 08:30:00| Telecompaper Headlines
(Telecompaper) Nokia has again raised its target for cost reductions, after reporting a further slowdown in the mobile broadband market in Q2. Pro forma revenues, adjusted for the takeover of Alcatel-Lucent, fell 11 percent year-on-year to EUR 5.676 billion, and the company's adjusted operating profit was down 49 percent to EUR 332 million. Nokia said it now aims to operating costs by EUR 1.2 billion by 2018, up from an earlier target of over EUR 900 million compared to 2015.
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Category:Telecommunications