By Peter Garnry.
Nokia's Q4 earnings have confirmed investor concerns about the future direction of the tech firm. A move into network provision was seen as a 'plan b' after the company lost out in the smartphone market to Apple and Samsung.
The share price fell by as much as 4% as the market reacted to news that sales of devices were down year on year.
Nokia has been facing stiff competition in the network market from Chinese firms with cheaper prices. The same problems are affecting Cisco which is once again blaming Chinese telecom giant Huawei for infringing patents. A charge Huawei has denied.
Author Peter Garnry, Head of Equity Strategy, Saxo Bank
Topics Equities, Nokia, Saxo TV, markets
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