NOKIANasdaq HelsinkiCommunication EquipmentIFRS · EUR

Nokia Oyj

Nokia is a Finnish multinational corporation headquartered in Helsinki, Finland. It specializes in creating technology that helps the world act together, providing mobile, fixed, and cloud-based solutions. Nokia's offerings enable critical networks for communication service providers, industries, and hyperscale operators globally. The company is listed on the Nasdaq Helsinki, NYSE, and Euronext Paris stock exchanges.

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Revenue19.9bn EUR
+3.5 %y/y
Operating profit (EBIT)885m EUR
−55.7 %y/y
EBIT margin4.4%
−6.0 ppy/y
Net income660m EUR
−48.6 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

0510152025bn EUR2021: 22.2 bn EUR2021: EBIT 2.2 bn EUR20212022: 24.9 bn EUR2022: EBIT 2.3 bn EUR20222023: 22.3 bn EUR2023: EBIT 1.7 bn EUR20232024: 19.2 bn EUR2024: EBIT 2.0 bn EUR20242025: 19.9 bn EUR2025: EBIT 0.89 bn EUR2025TTM 2026: 20.3 bn EURTTM20.3
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year

Business

Share of revenue
Mobile Networks40 %

Includes radio access networks and small cells for mobile operators.

Network Infrastructure30 %

Comprises IP networks, optical networks, and submarine networks.

Cloud and Network Services15 %

Offers cloud-native software and services for network management.

Technology15 %

Focuses on licensing and monetizing Nokia's intellectual property.

Customers

Nokia serves a diverse range of customers, including communication service providers, enterprises, and public sector clients. Its technology solutions are crucial for companies operating in over 100 countries, enabling them to build and manage critical networks. Nokia's customer base includes large-scale telecom operators, industries seeking digital transformation, and hyperscale data center operators. The company also licenses its technology to other firms, generating significant revenue from intellectual property rights.

Communication Service Providers

Buy network solutions to enhance connectivity and service offerings.

Enterprises

Implement digital transformation solutions for increased efficiency.

Hyperscale Operators

Require scalable network solutions for large data centers.

Public Sector

Invest in secure and reliable communication infrastructure.

Strategy

Nokia's strategic priorities focus on advancing its technology leadership and expanding its market presence. The company invests heavily in R&D to drive innovation in 5G, cloud services, and network automation. Nokia aims to enhance its software capabilities and increase its share in enterprise and public sector markets. Strategic partnerships and acquisitions are key to strengthening its portfolio and competitive position.

Invest in 5G and network automationLong term

To maintain technology leadership and meet market demand.

Expand enterprise market shareMedium term

To diversify revenue streams and capture growth opportunities.

Enhance software capabilitiesMedium term

To support cloud services and network management.

Geography

Q4/2025

Nokia operates globally with a strong presence in Europe, North America, and Asia-Pacific regions. The company has manufacturing and R&D facilities across these regions, enabling it to serve diverse markets effectively. Europe remains a key market, contributing significantly to revenue, while North America and Asia-Pacific are also critical for growth. Nokia's strategic locations allow it to adapt to regional market demands and technological advancements.

Europe, Middle East and Africa23 %
Americas20 %
North America18 %
Europe17 %
Asia Pacific6.8 %
Middle East and Africa6.7 %
India3.6 %
China Region2.3 %
Latin America2.3 %

Share of the revenue the company reports by geography.

Risks

Nokia faces several business and financial risks, including geopolitical tensions affecting global operations, rapid technological changes, and intense competition in the telecommunications industry. The company is also exposed to risks related to supply chain disruptions and regulatory compliance across different regions. Additionally, fluctuations in currency exchange rates can impact financial performance, given its global operations.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Geopolitical tensions1Technological changes2Intense competition3Supply chain disruptions4Regulatory compliance5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Geopolitical tensionsImpact: CriticalLikelihood: Medium

    Can disrupt global operations and supply chains.

  2. Technological changesImpact: HighLikelihood: High

    Require continuous innovation to stay competitive.

  3. Intense competitionImpact: HighLikelihood: High

    May affect market share and pricing strategies.

  4. Supply chain disruptionsImpact: MediumLikelihood: Medium

    Impact production and delivery timelines.

  5. Regulatory complianceImpact: MediumLikelihood: Low

    Varies across regions, posing operational challenges.

Accounting

Judgemental items
Revenue recognition

Critical for long-term contracts and licensing agreements.

Impact: Significant on reported revenue.

Seasonality

Affects quarterly revenue and cost patterns.

Impact: Higher activity in Q4.

Currency fluctuations

Due to global operations, impacting financial results.

Impact: Material on earnings.

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Last updated: 24/09/2026