Nokia expects 2021 operating margins for its telephone networks business to be flat

Telecoms equipment maker Nokia expects operating margins at its mobile networks business will be flat in 2021, it said on Wednesday in an update on strategy to streamline the Finnish company into four business groups.

The immediate focus of the mobile networks business will be on executing its turnaround, the company said. It expects the business to deliver a comparable operating margin of about 0% in 2021 and significant improvement over the longer term, Nokia added.

Nokia announced a new strategy in October under which the company will have four business groups and CEO Pekka Lundmark said Nokia would “do whatever it takes” to take the lead in 5G.