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Network costs are going up, says Nokia CEO

April 29, 2022

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Nokia reported a better-than-expected first quarter, but CEO Pekka Lundmark warned investors that the company is being impacted by rising input prices and the global chip shortage.

While Lundmark said that Nokia’s first-quarter results were a “strong start to the year,” he added that the company could have grown faster if it had not been hampered by supply chain issues. “Supply chain continued to constrain our growth, notably in mobile networks, and then within [the] network infrastructure business inside the optical networks business,” Lundmark said on Nokia’s call with investors.

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