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Nokia’s new CEO, Justin HotardPresident Donald is open to expand the company’s production opportunities to reduce the impact of tariffs presented during Trump’s leadership.
The company forecasts that the tariffs will affect comparable operations of the second quarter to about $ 22 million to $ 34 million. The cost of fin value Telecommunication company The shares decreased by 6% on Thursday after gain in the first quarter.
Nokia, in the first quarter in the first quarter, the net worth $ 68.2 million. However, according to Wall Street JournalThe company’s comparative operating profit was 74% to $ 177 million.
Meanwhile, analysts have expected to make the company $ 341 million and make a net profit of $ 143 million. Invoice reference.
These companies announced that they intended to increase US production
Nokia headquarters on February 26, 2023, Espoo, Finland. (Nokia / Presentation / Reuters Pictures)
The company pointed out to a $ 136 million settlement as a reason to be lower than expected The first quarter number. Hotard said that settlement is now associated with a completely populated customer project.
Despite the performance in the first quarter, Nokia did not change the worldview that he forecasts of $ 2.2 billion in $ 2.2 billion for 2025. However, Hotard – those who have the General Director for about three weeks – to reach the top end of the range “it will be more difficult.”
Nokia’s Espoo, Finland, February 10, 2025 in Nokia’s press conference Justin Hotard. (Markku Ulander / Via / Reuters)
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While Hotard Reuters reported He sees an important dip required for US tariffs and sees an opportunity for CEO Nokia to evaluate US investment.
“This is not a discussion in our headquarters (action) … This is less critical in research and development (R & D) and the ability to produce,” said Hotard Reuters.
A man looks at the phone at the Nokia headquarters in Finland, October 19, 2023, Espoo. (Jussi Nukari / Leaf Figure / Via / Reuters)
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But the Hotard explained Financial times (Ft), the tariffs “will completely entertain” the intention of expanding the production of US production to create “additional embassies”. Outlet said that Nokia has five production facilities in the United States since today
“If you have opportunities to strengthen (US-made), it will help grow the growth in the market, this is one of what I will look like,” Hotard, Ft.
Several companies began to invest more in the United States to avoid large hits from tariffs. According to CBS NewsThe list of companies includes Chobani, Johnson & Johnson, Apple and Abbott Laboratories.
