Telecom equipment maker, Nokia, has reported strong sales growth in 2023, as it benefits from the deployment of 5G in India and other regions. The company expects to see a rise in sales in the coming year, with CEO Pekka Lundmark stating, "2023 is expected to be another year of growth."
Fourth Quarter Financials
Nokia's financial data for the fourth quarter of 2021 showed a rise in comparable operating profit to 1.15 billion euros, which is approximately 8.498 billion yuan, from last year's 908 million euros, which is approximately 6.71 billion yuan. This exceeded analysts' average forecast of 924.6 million euros, which is approximately 6.71 billion yuan.
"Looking ahead to 2023, while we note uncertainty about the economic outlook, demand remains strong," said Lundmark in a statement.
Full-Year Net Sales
In addition to the strong fourth quarter financials, Nokia also expects full-year net sales to be between 24.9 billion euros and 26.5 billion euros, which is approximately 184.011 billion yuan and 195.835 billion yuan respectively. This represents a year-on-year increase of 2% to 8% at constant exchange rates. The company's analysis division is expected to be 25.5 billion euros, which is approximately 188.445 billion yuan.
"Of course, our goal is to capture market share, and I believe that's exactly what's happening right now," said Lundmark on the call.
5G Deployment in India and Other Regions
The deployment of 5G in India and other regions has been a major factor in Nokia's strong sales growth. The company is one of the leading players in the 5G market, with a wide range of products and solutions for the deployment of 5G networks.
In India, the government has recently auctioned spectrum for the deployment of 5G networks, and Nokia is expected to play a significant role in the rollout of these networks. The company has already signed a number of agreements with Indian operators for the supply of 5G equipment and services.
In addition to India, Nokia is also seeing strong demand for its 5G products and solutions in other regions, such as Europe and North America. The company is well-positioned to capture market share in these regions, as it continues to innovate and improve its products and services.
Overall, Nokia's strong sales growth in 2023 is a positive indication of the company's future prospects. The deployment of 5G in India and other regions has been a major driver of this growth, and the company is well-positioned to capture market share in these regions. Despite some uncertainty in the economic outlook, demand for Nokia's products and services remains strong, and the company is optimistic about its future prospects.
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