Nokia Expects Mobile Business to Drive Its Growth in 2023

Nokia expects its mobile business to drive growth this year, CEO Pekka Lundmark said Thursday as the company released Q4 results. Nokia’s mobile business unit had 3% growth over last year, though operating margins declined. “As we look into 2023, even as some developed markets, like North America, mature, other markets, like India, are just starting to ramp up,” Lundmark said during an investor presentation: “We see the addressable markets for mobile networks continuing to grow. With the recent deals won, we believe we are in a strong position to outperform the market.”