Nokia reports Q3 profit increase despite sales decline

HELSINKI, Oct. 17 (Xinhua) -- Finnish telecommunications company Nokia reported a comparable operating profit increase of 9 percent, rising to 454 million euros (491.5 U.S. dollars) in the third quarter of this year, while net sales dropped 8 percent year-over-year to 4.33 billion euros.

"Three-quarters of the decline was driven by India, where we saw particularly strong sales in the same quarter last year," explained Pekka Lundmark, Nokia's President and CEO, in the press release accompanying the financial report.

Nokia's outlook for the entire year of 2024 remains unchanged, with expectations for comparable operating profit projected to be between 2.3 billion euros and 2.9 billion euros. (1 euro = 1.08 U.S. dollar)