Nokia profit soars on buoyant sales for 5G technology

HELSINKI: Wireless network maker Nokia on Thursday reported substantially improved, better than expected first-quarter profit on buoyant sales of its new generation 5G equipment.

The company based in Espoo, Finland, reported net profit of 375 million euros ($454 million) for the January-March period, up from 33 million euros a year earlier. Sales were up 3%, to 5.1 billion euros.