Finnish telecom equipment group
The group reported a net profit for the quarter of €2.51 billion (
But sales fell by nearly seven per cent to €2.942 billion, although this was in line with the overall expectations of analysts polled by Dow Jones Newswires.
The strong turnaround boosted
The group is focusing on its information networks expertise and on its data technologies.
He said: "Maintaining this balance will remain a clear priority in the second half of the year when we expect networks to return to year-on-year growth.
"Our expectations for the full year 2014 have improved and we now expect full year underlying profitability for networks to be at our slightly above our long-term target range of five to ten per cent."
But the group has a long history of successfully re-inventing itself, and Suri said that the latest quarterly performance "along with many conversations I have had with customers, partners, employees and others in my first quarter as CEO, gives me a high degree of confidence about our future."
He also said that free navigation applications for the auto sector, called HERE, were doing well and that the group would continue to invest in this.
The technologies activities of the group raised gross profit by more than 30 per cent during the quarter, thanks largely to
The number of
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