Nokia the Finnish manufacturer of telecommunications equipment announced a surprising growth in its profit for the second quarter, citing as the reason for this increased demand. The revenue of the company for the period of April – June have increased by 7 % on an annual basis to 5,69 billion euros or 6.34 billion dollars after the expansion of its business in North America.
This result beat the expectations of analysts, which were for such a level of on 5.43 billion. The forecasts of the company are for additional light growth until the end of the 2019 year. Manufacturers of telecommunication equipment had to deal with the fallen search for a 4G technology over the past few years. Now but they rely on the new a significant increase in demand with the advent of the next-generation 5G.
According to analysts European competitors of Huawei Nokia Ericsson will be able to take advantage of the troubled situation in which is situated the Chinese giant on the background of the requirements imposed by the United States restrictions. “Some customers reviewed a selection of suppliers of amid concerns about security,” indicated by the Nokia. “Competition will likely be deepened in the experience of the companies to pick up a share of the market of 5G”, supplemented by it.