Nokia: sales decline slowed in the first-quarter.

(CercleFinance.com) - Nokia stuck to its full-year networks market forecasts on Thursday, as the company managed to slow the rate of its topline decline in the first quarter.


Non-IFRS net sales reached 5.4 billion euros in the first three months of 2017, down 6% compared to the 5.6 billion euros posted in the same period one year ago.

This gave a non-IFRS profit of 203 million euros, versus 139 million euros in the first quarter of 2016, while gross margin amounted to 40.8% compared to 39.7% the year before.

According to Nokia, the mobile networks unit was the highlight of the quarter, thanks to a combination of robust interest in advanced LTE solutions such as 4.5G, and ongoing cost discipline.

"Overall, given Nokia's performance in the first quarter, I am optimistic about the year ahead, even if cautiously so," said CEO Rajeev Suri.

He said Nokia's competitive position is "strong," and that the company is executing well, and as a result has confirmed the group's guidance for 2017.

As a reminder, Nokia anticipates an operating margin of between 8% and 10% in its networks unit in full-year 2017.

The shares listed on Nasdaq Nordic opened up 4.5 percent at 5.2 euros this morning.

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