Crest View International Reports On Nokia’s Surprise Profit Increase
Nokia saw a 7 per cent stock price increase on the Helsinki Stock Exchange reports Crest View International
Hong Kong-based wealth management company, Crest View International has commented on Nokia Corporation, as their stock price rallied over seven per cent in early trading hours on the Helsinki Stock Exchange.
The Finnish multinational telecommunications company has been engaged over the past months in cost-cutting efforts that have resulted as a positive move, as shown in the company’s fourth-quarter results.
“Nokia’s share price has risen to four-month highs; however, the company did state that at this stage, they were not ready to propose a dividend to shareholders.” Commented James Turner, Director of Sales & Trading at Crest View International.
Researchers and analysts from Crest View International noted that Nokia had lowered its outlook four months ago and said that it was to halt its dividend payout to shareholders due to future investments in the new fifth-generation wireless technology.
“Nokia faces strong competition for 5G network deals as they compete with Swedish telecommunications company Ericsson and Chinese Huawei Technologies” Commented Robert Woods, Senior Vice President at Crest View International.
Nokia has said that it will continue to focus its attention towards its most profitable operations that are based in mainland China. Sales in mainland China dropped to €469 million euros, 25% lower in its fourth-quarter results.
Analysts from Crest View International also noted that its group sales remained flat at €6.9 billion euros with the decline spanning mainland China and North America. At the same time, growth increased in the Asia-Pacific region.