Nokia says margins at networks business will be zero in 2021

Telecoms equipment maker Nokia’s operating margins at its networks business will be zero in 2021, it said on Wednesday in an update on strategy to streamline the Finnish company into four business groups.

The immediate focus of the mobile networks business will be on executing its turnaround, the company said. It expects the business to deliver a comparable operating margin of about 0% in 2021 and significant improvement over the longer term, Nokia added.

Main Photo: The Nokia logo outside the headquarters of the Finnish multinational communications company, Espoo, Finland. EPA/MARKKU OJALA