By Dominic Chopping

Nokia expects the challenging network industry environment to continue through the first half of 2024 as operator spending remains muted, but the situation should improve later in the year, it said.

The Finnish telecommunications company said it is now starting to see some "green shoots on the horizon," with improving order intake in its network infrastructure business.

Top-line challenges for the mobile networks unit will remain in 2024, but the company's gross margin should improve thanks to cost savings in the second half, Nokia said Thursday.

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

(END) Dow Jones Newswires

January 25, 2024 01:43 ET (06:43 GMT)

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