By Dominic Chopping

Nokia cut its operating margin guidance as market conditions in its mobile networks business remain challenging, with operator spending falling and a normalization in India after a period of rapid 5G deployment.

The Finnish telecom equipment maker said Tuesday that it now targets a comparable operating margin target of at least 13% by 2026, from at least 14% previously.

"Nokia still sees a path to achieving the at least 14% comparable operating margin target but considering the current market conditions in mobile networks, this is deemed a prudent change," the company said.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

December 12, 2023 01:38 ET (06:38 GMT)

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