Nokia sees chip shortage easing

STOCKHOLM:

Finnish telecom equipment maker Nokia said it expects the global semiconductor shortage to ease later this year, as it reported quarterly operating profit that beat market expectations, boosted by solid demand for 5G gear. The strong performance sent its shares up as much as 7%. A semiconductor shortage that began around the height of the pandemic in 2020 has affected a range of industries, including telecoms. Nokia said it expects the pressure to ease through the second half of 2022 and the first half of next year.

Published in The Express Tribune, July 22^nd, 2022.

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