On its Q1 earnings call, Nokia President and CEO Rajeev Suri said that while the company’s revenues took a small hit — EUR200 million in net sales — due to Coronavirus-related supply chain disruption in China, it didn’t experience a demand decline in the quarter.
Suri also revealed that Nokia managed to secure a profit in the last quarter, but added that the majority of the impact of the COVID-19 pandemic will most likely arrive in Q2.
“We expect the majority of this COVID-19 impact to improve and believe that our industry is fairly resilient to the crisis, although not immune,” he commented.
