Nokia Corporation (NOK) Q1 2020 Earnings Call Transcript

Nokia Corporation (NOK) Q1 2020 Earnings Call Transcript

We made steady progress in our Mobile Access business as our transformation and product cost reduction efforts started to take hold.. Our Q1 showed broad year-on-year profitability improvements, thanks to strong performance across our portfolio, including enterprise and software, supported by continued discipline on costs.. And fourth, we are adjusting the midpoints within our previously disclosed outlook ranges for full year 2020 to reflect the increased risks and uncertainty presented by the ongoing COVID-19 situation.. An important driver behind that was the improvement in the network's business group's gross margin, which increased year-on-year by 3.5 percentage points largely driven by gross margin expansion in Mobile Access.. In our Q4 2019 results, I spoke about how we continue to have a sharp focus on executing in our Mobile Access business, and that we expect it to make good progress in our turnaround this year.. As I said in Q4, our focus in Mobile Access is on four key areas: First, improving profitability through consistent product cost reductions; second, maintaining scale to be competitive; third, enhancing commercial management and deal discipline; and fourth, further strengthening operational performance and services.. We also see potential with the large enterprise customers we are focusing on,