It is not because a disconnection is repaired that there is no longer any fry in the communication. Nokia’s choice to announce new radical reorganizations (up to 10,000 job cuts by 2023) to better detail two days later its strategic plan finally created disappointment (-5.5%), what he wanted to avoid. The new boss Pekka Lundmark promises to accelerate the train of its growth while estimating that he has time for the reorganization, given the planned cycle of 5G. And he assures that he will invest whatever it takes to catch up with the competitiveness gap, but without depriving himself of the prospect of a resumption of the dividend, suspended since 2019, under 2021, where the stock market expects to. first assignments. Its operating margin objective (10 to 13% in 2023 compared to 7 to 10% this year and 9% last year) also keeps the goat and the cabbage. Some sector oracles expected better, others see it as a conservative range, knowing that their “consensus” was previously (11%) a little below the “midpoint”. But most considered the target for mobile networks to be timid, with the upper end of the range (5-8%) corresponding to last year’s level. It will take more to erase the stock market love rating of Swedish rival Ericsson, but also to disconnect fans of “recovery story”.

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