Nokia lowered its profit margin target for 2026 to 13% after Ericsson took away major AT&T customers.

CTOnews.com, December 13 (Xinhua) Ericsson recently signed a five-year network transformation and digital strategy contract with AT&T, totaling about $14 billion (CTOnews.com Note: currently about 100.24 billion yuan), robbing Nokia of major customers.

Affected by the incident, Nokia cut its earnings forecast yesterday, lowering its operating profit margin target for 2026 from 14% to 13%. Nokia also plans to reduce operating expenses, aiming to "save 1.2 billion euros (currently about 9.3 billion yuan) in costs." however, the company remains optimistic about the outlook, forecasting a profit of 10.78 billion euros (currently about 83.545 billion yuan) in 2026.

▲ Nokia yesterday announced a partnership with Deutsche Telekom to deploy a multi-vendor Open RAN network in Germany, and the company also plans to acquire Fenix Group to provide a series of "high-speed, low-latency solutions" for defense customers.

Related reading: "Ericsson and AT&T enter into the largest open RAN contract in history for $14 billion, robbing Nokia of big customers."