By Dominic Chopping


Nokia cut its full-year sales guidance as the market remains uncertain with telecom operators continuing to hold back on investing in new network equipment.

The Finnish telecommunications company said Thursday that it is tracking toward the mid-point or slightly below the mid-point of its operating profit guidance.

"We believe the industry is stabilizing and given the order intake seen in recent quarters we expect a significant acceleration in net sales growth in the second half," said Chief Executive Pekka Lundmark.

"While the dynamic is improving, the net sales recovery is happening somewhat later than we previously expected."


Write to Dominic Chopping at dominic.chopping@wsj.com


(END) Dow Jones Newswires

07-18-24 0143ET