Tuesday 13 July 2021 11:18 am

Nokia expects stronger 2021 results

Nokia says it expects to revise upwards its expectations for 2021, following a strong second quarter.

The telecommunications company said it will also provide the full details on its second quarter, half-year financial performance and the revised full year 2021 guidance at the end of July.

Shares in the group rose 7.5 per cent to their highest level in two years this morning, after Nokia said it had seen “continued strength” in the second quarter, “improving its expectations for the full year”.

Its previous outlook showed that the phone maker expected net sales in 2021 to fall between €20.6bn to €21.8bn.

“We are progressing well with our three-phased plan to achieve sustainable, profitable growth and technology leadership laid out at our Capital Markets Day in March,” said Pekka Lundmark, Nokia chief executive officer.

Lundmark continued: “Our first half performance has shown evidence of this in good cost control and also benefited from strength in a number of our end markets. We continue to expect some headwinds in the second half as we have previously highlighted but our performance in the first half provides a good foundation for the full year.”