2023-12-05 10:33:00
The share price of Finnish Nokia, one of the world’s leading manufacturers of telecommunications equipment, continues to fall rapidly on the Helsinki Stock Exchange. Shortly following the start of trading today, December 5, the company’s quotes fell by almost ten percent, reports the YLE broadcasting corporation.
The largest US telecommunications operator AT&T announced yesterday that it had entered into a cooperation agreement with the Swedish network equipment manufacturer Ericsson.
Nokia was one step away from concluding this contract with AT&T, but the American giant at the last moment chose a Swedish partner.
As a result, experts predict that Nokia’s financial position will progressively deteriorate in the coming years: the company’s operating profit in the next few years will be lower than previously expected.
Nokia is disappointed with AT&T’s decision to choose Swedish Ericsson as its equipment supplier, the Finnish company said in a press release issued earlier this Tuesday.
Prior to this, AT&T announced a cooperation agreement with Ericsson. The deal might be worth up to $14 billion over five years.
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