Nokia beats market expectations, sees network market improving

Helsinki

FINNISH network equipment maker Nokia reported its quarterly profits fell less than expected, helped by cost cuts and the acquisition of Alcatel-Lucent, and said the tough global market was starting to stabilise.

Nokia and its rivals, Sweden's Ericsson and China's Huawei, have struggled lately as telecom operators' demand for faster 4G mobile broadband equipment has peaked, and upgrades to next-generation 5G equipment are still years away.

Nokia bought Franco-American Alcatel-Lucent last year to broaden its operations and is currently axing thousands of jobs as it seeks to cut 1.2 billi…