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Nokia posts earnings increase as new CEO takes over

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Nokia reported second quarter earnings of $376 million, a 22% jump from the same quarter of 2019.

The report came just ahead of Pekka Lundmark's entrance as CEO this weekend. He takes over for current President and CEO Rajeev Suri.

During the second quarter, officials cited moves to scale back on its service business and sign fewer 5G deals in the highly competitive Chinese market.

Read more from CNBC.

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