The company will be able to realize the forecast for 2022

Nokia announced higher-than-expected results, boosted by robust demand for 5G equipment from mobile carriers and benefits from a reorganization plan.

The firm maintained its profitability estimate, suggesting that it was able to overcome supply chain issues and significant price hikes in the first three months of the year.

Nokia left the Russian market

The decision to exit the Russian market in response to the country’s invasion of Ukraine resulted in a reserve of roughly 100 million euros ($106 million), according to the Finnish mobile network maker.

While supply chain and inflation issues persist, we are optimistic that we will be able to meet our 2022 projection and continue to make solid progress toward our long-term objectives, “said Pekka Lundmark, the company’s CEO.

The biggest event of the quarter, Nokia’s decision to exit Russia, had just a little influence on the company’s bottom line, as the Russian market accounted for less than 2% of the company’s revenues last year.

Nokia’s stock has increased by 37% in the last year.

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