Nokia warns of "challenging" year as it plays catch-up

FILE PHOTO: Visitors gather outside the Nokia booth at the Mobile World Congress in Barcelona, Spain, February 26, 2019. REUTERS/Sergio Perez/File Photo

HELSINKI (Reuters) - Finnish telecom network equipment maker Nokia warned of challenges to come this year as it tries to catch up with rivals after a strong finish to 2020.

While both Nokia and rival Ericsson have been gaining 5G customers that might otherwise have gone to China's Huawei, Ericsson has fared better, winning also big 5G contracts in China, where the deployment of the next-generation network is in full swing.