Mobile and fixed-line equipment maker Nokia today revealed that it reported a profit of 585 million euros in the second quarter of this year, up 8.5% from the same period last year.

The multinational also clarifies in a communiqué quoted by Lusa that the net result achieved was due to the strong demand for 5G technology by mobile network operators and the improved competitiveness of its main business units.

According to the source, the company, which is based in Espoo, Finland, recorded a net profit attributable to shareholders of 582 million euros in the period under review, up 9.4% compared to last year (532 million euros).

Nokia's sales, meanwhile, increased 11% to €5.9 billion.

Nokia CEO Pekka Lundmark said it had another quarter of "robust profitability," adding that he was "particularly pleased" to see Nokia's two main business units - Mobile Networks and Network Infrastructure - performing "well."

"Our continued investments in technology leadership and competitiveness are showing results. We are confident that we will have growth throughout this year," Lundmark said in a video message posted on YouTube after the release of the report on the multinational's results.

Nokia is one of the world's leading suppliers of 5G - the latest generation of broadband technology - together with Sweden's Ericsson, China's Huawei and South Korea's Samsung. (Lusa)