Nokia Looks to 5G Rollouts for Growth
No-moat Nokia's fourth quarter showcased year-over-year growth of over 3% as all its divisions within the Networks business grew. IFRS operating margin of 8% was in line with our projections as Nokia improved gross margins while curtailing expenditures. On the year, Nokia's sales declined by 2.5%, which was slightly better than our expected 3.1% annual decline. We believe 5G networks will be the main growth catalyst while Nokia shifts toward more profitable products alongside cost savings effort...Nokia is an Internet and communications technology company based in Finland. Co.'s operations are focused on three businesses: network infrastructure software, hardware and services, which Co. offers through Networks; location intelligence, which Co. provides through HERE; and advanced technology development and licensing, which Co. pursues through Technologies. Co. maintains a global presence with operations and Researh & Development facilities located in Europe, North America and Asia, and sales in approximately 130 countries. Co. has an installed base of around 600 customers worldwide and these operators serve over 4 billion subscribers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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