Nokia

Big profit warning from Nokia last week.
They are seeing margin pressure from competition, and are having to make bigger investments into next generation mobile networks (5G).
As a result they are also cutting the dividend.
This competitor driven intensity ahead of a new investment cycle (5G) is very typical of the telecoms equipment industry.
Their customers merging is not helping as they likely standardise on one supplier. They are also delaying 5G roll outs as a result.