Nokia has spent the last three years transforming itself from a cellphone maker into a company that sells equipment that enables modern communications to wireless carriers and cable operators. It sold its cellphone business to Microsoft Corp in 2014 and beefed up its equipment offerings by acquiring Alcatel-Lucent in 2016. About 87% of its sales comes from selling telecommunications equipment, with additional revenue coming from patent licensing. Selling equipment for cellular towers and other communications infrastructure—to be worse than it had expected for the rest of 2017 and to fall 2% to 5% in 2018. In addition, all telecom-equipment makers are dealing with a pause in spending because wireless carriers largely have all the equipment they need.
https://www.wsj.com/articles/nokia-shares-plunge-on-downbeat-outlook-1509010064
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