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Nokia Sees Revenue Drop In 2021 As It Fights For Market Share

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(Bloomberg) -- Nokia Oyj said it expects revenue to continue to drop this year as the telecommunications equipment maker battles share loss and falling prices for its products in some markets. Sales are expected to be between 20.6 billion euros and 21.8 billion euros ($24.7 billion to $26.2 billion), the company said in a statement on Thursday. Analysts had predicted about 21.5 billion euros for 2021, according to the average in a Bloomberg survey.Adjusted operating profit in the fourth quarter fell to 1.1 billion euros, better than the average analyst estimate of 955.3 million euros.

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