https://apnews.com/8f7d0b48ac6a4aa4afc67cd153776098

HELSINKI (AP) — Telecom networks provider Nokia reported Thursday lower third-quarter earnings and said it would start a new cost-cutting scheme as it waits for demand for the new 5G systems to pick up.

The Finnish company said that its net profit for the July-September period stood at 309 million euros ($352 million), down from 516 million euros a year earlier. Sales were nearly flat at 5.5 billion euros.