Nokia shrugs off chip problems to double profit in Q3

Agence France-Presse

Posted at Oct 28 2021 02:18 PM

 The logo of the Finnish telecoms company Nokia is pictured on its headquarters in Espoo, Finland, on March 16, 2021.  Heikki Saukkomaa/Lehtikuva/AFP/File
The logo of the Finnish telecoms company Nokia is pictured on its headquarters in Espoo, Finland, on March 16, 2021.  Heikki Saukkomaa/Lehtikuva/AFP/File


HELSINKI - Finnish telecoms equipment maker Nokia said Thursday that it was able to double its profits in the third quarter of the current year, despite the worldwide shortage of computer chips. 

Nokia said in a statement its bottom-line net profit rose by 77 percent to 342 million euros ($400 million) in the period from July to September.

"The uncertainty around the global semiconductor market limits our visibility into Q4 and 2022," said chief executive, Pekka Lundmark.

"We are working closely not only with our suppliers to ensure component availability."

More details to follow.

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