https://apnews.com/1676f90bde98496faf5c24ebb4c70312

HELSINKI (AP) — Nokia says its second-quarter earnings slumped as clients were not willing yet to increase spending on the faster but more expensive new generation of mobile networks and are seeking price cuts.

The Finnish maker of telecommunications gear said Thursday that its net profit for the April-June period came in at 144 million euros ($169 million), down from 449 million euros a year earlier. Sales fell 6 percent to 5.3 billion euros.