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5G demand boosts Nokia sales but chip shortage could have future impact

October 28, 2021

Via: TechRadar

Strong demand for 5G equipment saw Nokia increase sales by 2% during the third quarter of 2021, however the company has warned that the industry-wide chip shortage could have an impact moving forward.

The Finnish firm said rising revenues in its network infrastructure (up 6%) and cloud and network services (up 12%) divisions offset challenges elsewhere. It added that healthy margins demonstrated the strength of its strategy and its execution.

Net sales reached €5.4 billion (£4.56bn) and operating profit rose by 30% to €633 million (£534m).

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