Nokia reports strong growth in 2022

Finnish telecommunications equipment maker Nokia on Thursday reported strong growth in 2022, with its quarterly operating profit exceeding market expectations, reported Xinhua.

The company's operating profit in full year 2022 increased by 12 percent to 3.1 billion euros, compared to 2.8 billion euros in 2021, its financial report for Q4 and full year 2022 showed.

"One of our strategic priorities is to broaden our customer base and grow in Enterprise and I'm delighted we achieved 21 percent net sales growth in constant currency for the full year with 49 percent growth in Q4," CEO Pekka Lundmark said in the report.

The company's notable growth in Q4 was believed to be driven mainly by a strong market demand for mobile networks and network infrastructure.

"Looking forward to 2023, while we are mindful of the uncertain economic outlook, demand remains robust. We expect another year of growth," Lundmark said.