Nokia profit soars on buoyant sales for 5G technology
HELSINKI (AP) - Wireless network maker Nokia on Thursday reported a significant improvement and better-than-expected first-quarter profit due to buoyant sales of its new generation 5G devices. Based in Espoo, Finland, the company posted a net profit of 375 million euros from January to March (compared to 45 million euros in the previous year). Sales rose by 3% to 5.1 billion euros. CEO Pekka Lundmark said the numbers "got the year off to a robust start" for Nokia, which aims to become the global leader in 5G technology in a close race with Nordic competitor Ericsson, Chinese Huawei and South Korean Samsung, among others. "Today's results show that we are on the right track to implement our three-phase plan to achieve sustainable, profitable growth and technology leadership as announced," Lundmark said in a statement. Nokia said the company's business was driven by stro