Nokia Triples Profit in The Second Quarter of 2021

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Nokia released this Thursday (29), the financial statement for the last quarter and the numbers show that growth not only exceeded the period compared to last year, but tripled. The company stated that the growth observed is the result of its new business model — turnaround — which began in March this year.

Totaling 351 million euros, the Finnish supplier had a growth of 255% compared to the same quarter in 2020. When considering the months of January to June 2021, the growth was 874%, ending the semester with 916 million euros.

In the quarter, operating profit grew 185%, to around 484 million euros, and a margin of 9.1% against 3.3% in 2020. Year-on-year, this margin is 8.8% against 0.9% last year.

Pekka Lundmark, President and CEO of Nokia, said in an official statement that he was happy with the positive results, in particular with the operating margins. “We are already seeing the benefits of our new operating model that has helped us deliver such strong financial performance,” Lundmark points out.

The goal established in March was to reach 20.6 billion to 21.8 billion euros throughout the year. With the positive results, however, this number has been revised and the goal is now to close between 21.7 and 22.7 billion euros, with an operating margin between 10 to 12%.

Among its latest announcements, Nokia unveiled the XR20, its new “indestructible” cell phone, and four models of headphones, from the premium line to the most affordable.

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