Nokia cuts full-year profit outlook on tough competition

HELSINKI (Reuters) - Finnish telecom network equipment maker Nokia on Thursday reported third-quarter profit in-line with expectations but lowered its full-year profit forecasts for 2019 and 2020, citing tough competition and additional investments."Competitive intensity has increased in some accounts as some competitors seek to take share in the early stage of 5G," it said in a statement. Nokia now sees 2019 underlying earnings per share (EPS) at 0.18 euros to 0.24 euros and 2020 EPS at 0.20..