Nokia joins Ericsson in seeing signs of recovery after mixed Q3 results

Finnish telecom equipment supplier Nokia on Thursday reported a 9 per cent rise in third-quarter operating profit on cost cuts, and echoed rival Ericsson in seeing demand recovery in some areas.

However, quarterly net sales fell 8 per cent to 4.33 billion euros ($4.70 billion), missing estimates of 4.76 billion euros due mainly to lower sales to India. That sent its shares down 3 per cent.