Nokia Streamlines Business to Focus on AI Infrastructure Boom

Nokia Oyj is banking on the boom in artificial intelligence, streamlining its business to focus on networking infrastructure that can connect AI data centers.

The move will deliver double-digit operating income growth in the coming years, Chief Executive Officer Justin Hotard told Bloomberg News in an interview in New York, ahead of the company’s capital markets day on Wednesday.

Nokia will generate annual operating profit in the range of €2.7 billion ($3.1 billion) and €3.2 billion by 2028, the company announced.

The Finnish company plans to sell off under-performing parts of its business and restructure its four existing segments into ...