Nokia’s Success in Licensing Deals Offsets Weakness in Service Provider Space; Maintain $6.50 FVE
Nokia reported mixed second-quarter results, as challenges in the wireless market appear to be worse than expected, albeit roughly in line with industry peers. Furthermore, IP routing and optical space remained weak because of the portfolio transition to the new products. On the positive side, Nokia executed well on its cost-cutting program, and we foresee a further expansion in operating margins. The recently resolved patent disputes with Apple and Xiaomi will further boost Nokia's bottom line ...
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