Top Nokia investor has high expectations after past underperformance

Nokia's largest investor said on Tuesday it had high expectations of new management after the Finnish telecoms equipment maker had failed to live up to its potential under previous

Curated via Twitter from Reuters Tech News’s twitter account….

FILE PHOTO: Pekka Lundmark, when president and CEO of Finnish utility company Fortum, poses after a news conference in Duesseldorf, Germany, October 8, 2019. “Nokia’s performance has not met our expectations in recent times and of course that is a disappointment, but we look at this over the long run,” Antti Makinen, CEO of Solidium, the Finnish government’s investment firm, told Reuters. “The previous management had become a burden,” he added.

Under Suri, Nokia last year slashed its profit outlook and halted dividend payouts, after product missteps that hurt its 5G ambitions and knocked more than a fifth off its market value. “We believe the (CEO) exchange alone will have a good effect,” Makinen said. “We have high expectations of Nokia and the new management that the potential we see in it will be realised.

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