Nokia swings to net loss, says 'not immune' to tariffs

Helsinki: Finnish telecoms equipment makerNokiaon Thursday reported a net loss of 60 million euros ($68 million) for the first quarter, citing the tar...

Helsinki: Finnish telecoms equipment maker Nokia on Thursday reported a net loss of 60 million euros ($68 million) for the first quarter, citing the tariff wars and the "rapidly evolving global trade landscape".

The company said tariffs imposed by the United States could result in "some short-term disruption" in its operations, but held its outlook of posting an annual operating profit.

"We are not immune to the rapidly evolving global trade landscape," chief executive Justin Hotard said in a statement.

"However based on early customer feedback, I believe our markets should prove to be relatively resilient," he added.

Hotard said the company expects the current tariffs would impact second quarter comparable operating profit by 20 to 30 million euros.