Finnish tech giant, Nokia, is considering a range of strategic options to ease pressure on its financial earnings, according to reports in the press.
Sources close to the matter told journalists from Bloomberg that Nokia was currently working with advisors to flesh out a range of options, from potential mergers to possible asset sales, to ease mounting pressure on its bottom line.
In October, Nokia’s share price fell by 27.9 per cent, following its decision to cut its full year’s earning guidance as a result of rising costs associated with 5G.
Sources told Bloomberg that negotiations with financial advisors are still ongoing and that there was no certainty that any action would take place on the merges or asset sales front. Sources confirmed that the company is also looking at other, less intensive, options such as adjusting the company’s investment portfolio and adjusting its balance sheet.
According to the company’s website, Nokia has signed 63 commercial 5G launch deals with operators around the world, putting it third in the 5G race behind industry front runners Huawei (91) and Ericsson (81).
Nokia has so far launched 18 5G networks in a range of countries including the US, Saudi Arabia, Korea and the UK.