By Dominic Chopping
Nokia cut its operating margin guidance as market conditions in its mobile networks business remain challenging, with operator spending falling and a normalization in India after a period of rapid 5G deployment.
The Finnish telecom equipment maker said Tuesday that it now targets a comparable operating margin target of at least 13% by 2026, from at least 14% previously.
“Nokia still sees a path to achieving the at least 14% comparable operating margin target but considering the current market conditions in mobile networks, this is deemed a prudent change,” the company said.
Write to Dominic Chopping at dominic.chopping@wsj.com