Nokia sees improved 3Q profit, sales on strong demand for 5G

HELSINKI (AP) — Wireless and fixed-network equipment maker Nokia has reported substantially improved third-quarter profits and higher sales on the back of strong demand for 5G technology from operators. The Finland-based company on Thursday reported net profit of 551 million euros ($539 million) for the July-September period. That’s a 19% increase from a year earlier. Nokia says its net income attributable to shareholders was up 21% at 550 million euros. The company’s reported sales were up 16% to 6.2 billion euros. CEO Pekka Lundmark said Nokia still expects growth on a constant currency basis but economic and geopolitical uncertainty “could have an impact” on customer spending next year.