Nokia Q1 23 – similar story to Ericsson but more diversified

Finnish kit vendor Nokia shared its main competitor’s reliance on India in the first quarter of this year but its risks are more spread out.
Nokia’s net sales were up 9% year-on-year in Q1 2023, which compares favourably to Ericsson’s flat numbers, reported earlier this week. In common with its competitor, Nokia relied heavily on India’s 5G roll out to offset declines in North America. But Nokia seems less exposed to the US market and has a more diversified portfolio than