Bloomberg reports that Nokia is coming to an end because of "fierce competition" from the likes of Ericsson and Huawei. The company is currently reviewing various, including asset sales and mergers. Nokia also states that it does not expect a major recovery in profits until next year at the earliest.

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Nokia Oyj, not to be confused with the trading name of HMD Global, has run into trouble, according to Bloomberg. Citing "people familiar with the matter", Nokia is currently working with consultants to determine how to make the company profitable again. The company has already suspended its dividend for this year, with its shares having lost almost a third of its value in the last year.

Apparently, assets sales, mergers, shifting investments and making balance-sheet adjustments are all being considered. Unsurprisingly, the information remains private for the time being, but a full sale or merger is yet to be discounted. Bloomberg states that there has been limited interest from potential customers, though. The website claims that Nokia declined to comment, too.