Nokia Plans 14,000 Job Cuts in Effort to Trim Costs

Nokia plans to cut 14,000 jobs, about 16% of its workforce, to save €400 million annually, amid a 19% drop in quarterly sales. Both Nokia and its rival Ericsson have faced declines due to reduced 5G infrastructure spending, especially in the US. Analysts predict a rebound with 22 buyer ratings and a 40% upside, though current developments may affect these expectations.

What are the predictions for a rebound in the market according to analysts?

What impact might the current situation have on the hopes for recovery?