Ericsson and Nokia feel squeeze of interest rates hikes

By Agence France-Presse

Jul 15, 2023 12:00 am

STOCKHOLM: Interest rate hikes are forcing mobile operators to scale back investment in 5G networks, with equipment manufacturer Ericsson reporting on Friday a rare net quarterly loss and Nokia lowering its outlook.

The news sent the shares of both companies down as much as nine percent on the Helsinki and Stockholm exchanges before trimming their losses.

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