Press Release Nokia to deliver the first-ever Esports event over Wi-Fi technology: The Nokia Apex Legends invitational tournament Nokia Wi-Fi Beacon powers first-ever Apex Legends Invitational Esports over Wi-Fi charity tournament. Nokia brings world class connectivity to communities worldwide, allowing players to compete and excel on the world gaming scene. Esports gamers use the Nokia Beacon to wirelessly connect and compete in the Apex Legends game, showcasing its near-deterministic latency and ethernet- ...

Nokia Corporation (NOK) recently collaborated with Global Fiber Peru and a fiber telecom network operator, FYCO, to install a subaquatic optical, IP and XGS-PON fiber broadband network in a remote region of the Amazon rainforest. A subsidiary of Satelital Group, Global Fiber Peru boasts extensive coverage of fiber networks throughout Peru. In the recent venture leveraging Nokia's robust network infrastructure, the company is delivering connectivity to 500,000 users across 400 communities in Amazon region. A ...

Nokia has established collaboration agreements with 12 network operators and ecosystem partners worldwide to use its Network as Code platform. This expansion marks a significant step in Nokia's strategy to drive network programmability and monetization, validating its commitment to supporting customers in maximizing network asset value. Nokia Corporation (NOK) and Orange S.A. (ORAN) have extended their long-term partnership to enhance network programmability and monetization across Europe. Central to this c ...

Acquisition and Strategic Integration - Nokia Corporation recently closed the acquisition of Fenix Group, a prominent provider of tactical communication products, to bolster its commercial prospects in the U.S. defense sector [1] - The integration of Fenix's products, including the Banshee family and Talon MANET radios, will strengthen Nokia's portfolio, enabling it to offer an extensive suite of 3GPP-based solutions to defense clients [2] - The acquisition aligns with Nokia's strategic move to capitalize on the increasing pace of defense modernization in the U.S. and other nations due to rising geopolitical volatility [4] Technological Advancements and Market Positioning - Nokia's end-to-end portfolio, including its high-capacity AirScale products, positions the company well for the ongoing technology cycle, enabling customers to upgrade to 5G quickly [5] - The company is driving the transition of global enterprises into smart virtual networks by creating a single network for all services, converging mobile and fixed broadband, IP routing, and optical networks [5] - Nokia aims to expand its business into high-growth and high-margin vertical markets, offering demand-driven operations with easy programmability and flexible automation [6] Industry and Competitive Landscape - The stock has gained 0.2% in the past year, significantly underperforming compared to the industry's growth of 53.9% [7] - NVIDIA Corporation, a leader in visual computing technologies, has delivered a trailing four-quarter earnings surprise of 18.43% on average, with a Zacks Rank 1 (Strong Buy) [8][9] - Arista Networks, Inc. is likely to benefit from strong momentum and diversification across its top verticals and product lines, with a long-term earnings growth expectation of 15.68% [10][11] - Silicon Motion Technology Corporation, a leading developer of microcontroller ICs for NAND flash storage devices, has delivered a trailing four-quarter average earnings surprise of 4.72% [11][12]

Press Release Espoo, Finland – Nokia today announced the successful completion of its acquisition of Fenix Group, a privately held company that specializes in tactical communications solutions for the defense communities. The acquisition, originally announced in December 2023, strengthens Nokia's position in the defense sector by adding Fenix's innovative broadband tactical communications products, including the industry-leading Banshee family and Talon MANET radios, to its existing solutions portfolio. Thi ...

Press Release Nokia and Export-Import bank memorandum of understanding on U.S. jobs, investment 21 May 2024 Washington D.C. – Nokia today announced the execution of a Framework Agreement with the Export Import bank to provide financing vehicles to partners of the company. The agreement is aimed at driving greater adoption and development of emerging wireless technologies, including 5G and subsequent wireless technologies that will continue to keep the U.S. and its partners at the forefront of emerging capab ...

Financial Data and Key Metrics Changes - The company reported a 19% year-on-year decline in net sales in constant currency for Q1 2024, attributed to a weak spending environment [4][9] - Gross margin improved significantly to 48.6% year-on-year, driven by better performance in Mobile Networks and deals in Nokia Technologies [9][10] - Free cash flow generation was strong, with nearly €1 billion generated in the quarter, aided by catch-up payments and working capital improvements [7][45] Business Line Data and Key Metrics Changes - Network Infrastructure sales declined by 26% year-on-year, with a notable 23% decline in Submarine Networks due to project timing and geopolitical issues [27] - Mobile Networks experienced a 37% decline in net sales, primarily due to normalization after significant 5G deployments in India and low activity levels in North America [11][13] - Nokia Technologies saw an increase in net sales run rate to approximately €1.3 billion, benefiting from smartphone licensing deals [25][29] Market Data and Key Metrics Changes - The company noted significant declines in India and North America, while growth was observed in the Middle East and Africa [13] - The outlook for Fixed Networks has improved, with expectations for recovery in the second half of 2024 [5][24] - The company highlighted that over 70% of homes globally, excluding China, remain unconnected by fiber, indicating substantial market opportunities [15] Company Strategy and Development Direction - The company is executing a cost reduction program targeting €800 million to €1.2 billion in savings by 2026, with €500 million in savings expected in 2024 [6][35] - Nokia is focusing on expanding its presence in new growth areas such as automotive, consumer electronics, IoT, and multimedia [33] - The company remains committed to R&D investment while optimizing margins during the current weak market environment [35] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging environment in the first half of 2024 but expressed confidence in improved order trends and a stronger second half [4][24] - The company expects Network Infrastructure to return to growth in full-year 2024, supported by improving order intake [10][24] - Management emphasized the importance of maintaining a strong competitive position in 5G and future technologies like 6G [116] Other Important Information - The company completed its smartphone licensing renewal cycle, which will provide stability and allow for focus on new growth areas [25] - The company ended the quarter with a net cash balance of €5.1 billion, positioning it well for future investments [27][45] Q&A Session Summary Question: Full-year guidance and outlook - Management remains confident in the full-year forecast despite steeper declines in network segments in Q1, with positive order trends continuing from Q4 [58][60] Question: Impact of organizational changes on operations - The reshuffling of the organization has been completed, and management is seeing increased traction and speed in operations post-restructuring [40] Question: Visibility on Mobile Networks sales growth - Management indicated that Q1 represented a low point for Mobile Networks, with expectations for improvement in subsequent quarters based on order backlog and customer discussions [88][111] Question: Growth in routing and switching business - The company is targeting rapid growth in the switching business, particularly with web scalers, and is optimistic about ongoing undisclosed deals [121] Question: Impact of AT&T deal on sales - Management confirmed that the AT&T situation has been factored into their sales expectations, with ongoing negotiations still in progress [66][118] Question: China market impact - The company has not seen significant impact from recent news regarding foreign chips in telecom equipment, as its market share in China is relatively low [101][120]

Nokia Annual Report on Form 20-F 2023 As filed with the Securities and Exchange Commission on 29 February 2024 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended 31 December 2023 Commission file number 1-13202 Nokia Corporation (Exact name of Registrant as specified in its charter) Republic of Finland (Jurisdiction of incorporation) Karakaari 7 FI-02610 Espoo , Finland ...

Financial Performance - Nokia's net sales for 2023 were EUR 22.3 billion, a decline from EUR 24.9 billion in 2022, representing a decrease of approximately 10.5%[18] - The gross profit for 2023 was EUR 8.7 billion, with a gross margin of 39.0%, down from 41.0% in 2022[18] - Operating profit decreased to EUR 1.7 billion, resulting in an operating margin of 7.6%, compared to 9.3% in the previous year[18] - Profit for the year was EUR 674 million, significantly lower than EUR 4.2 billion in 2022[18] - The proposed dividend per share for 2023 is EUR 0.13, an increase from EUR 0.12 in 2022[18] Market and Sales Trends - Nokia Technologies reported a segment net sales decline of 32% with an operating margin decrease of 810 basis points[38] - The estimated total addressable market (TAM) for communications service providers (CSPs) declined by 6% to EUR 96 billion from 2022 to 2023, with expectations of only moderate growth at a 1% CAGR until 2028[67][68] - The enterprise estimated TAM grew by 7% to EUR 16 billion from 2022 to 2023, with a forecasted strong growth at a 7% CAGR until 2028[72] - Network Infrastructure's net sales were negatively impacted by market uncertainty, but profitability remained robust with strong order intake, particularly for IP Networks from webscale customers[43] - Mobile Networks experienced a full-year net sales decline, but increased its 5G market share significantly and continued to grow in private wireless, with new high-performance massive MIMO radios added to its portfolio[44] Innovation and R&D - Nokia's R&D investment since 2000 has reached approximately EUR 150 billion, with over 6,000 patent families declared essential to the 5G standard[25] - Nokia's innovation efforts are led by Nokia Bell Labs, which made breakthroughs in optical networking and 6G, and the company is working with venture partners to commercialize these innovations[59][61] - In 2023, Nokia Bell Labs set four new world records for submarine optical communications and optical networks[105] - Nokia is leading the Hexa-X-II initiative for 6G research and launched a 6G Lab in India[103] - The company is focused on developing new standard-essential patents (SEPs) to shape future technologies and strengthen its IPR portfolio[111] Strategic Initiatives - The company initiated a share buyback program to return up to EUR 600 million to shareholders over the next two years[41] - Nokia announced the acquisition of Fenix Group to strengthen its offerings in the defense sector in the United States[48] - Nokia aims to lower its cost base by EUR 800 million to EUR 1,200 million by the end of 2026 to protect profitability amid ongoing market uncertainty[57] Sustainability and ESG Efforts - The company made significant progress in developing its environmental, social, and governance (ESG) strengths, receiving a top ranking in Sustainalytics' 2023 ESG Top-Rated Companies list[51] - The company aims to cut greenhouse gas emissions across its value chain by 50% by 2030, with factories on track to achieve 100% renewable electricity by 2025[190] - The company conducted a significant increase in supplier audits in 2023 to ensure compliance with labor rights, health and safety, and environmental standards[189] - The company introduced recycled material content targets for mechanical suppliers as part of its circularity program[191] - The company redesigned a key intercontinental logistics route with DHL Global Forwarding, achieving a 68% reduction in transport carbon emissions[193] Supply Chain and Manufacturing - The company purchased over EUR 13 billion worth of products and services from around 10,000 different suppliers in 2023[180] - Nokia's manufacturing network consists of 18% owned manufacturing and 82% contract manufacturing partners, strategically located to minimize risks[186] - The company is committed to enhancing resilience and sustainability across its supply chain to effectively address arising challenges[194] - The company is piloting fiber-based solutions to replace plastic in repair centers, aiming for wider implementation[192] - As of December 31, 2023, the company's net productive capacity across various manufacturing sites includes 13,500 m² in Suzhou, China, and 10,000 m² in Oulu, Finland[195]

Nokia Oyj (NYSE:NOK) Q4 2023 Earnings Conference Call January 25, 2024 4:30 AM ET Company Participants David Mulholland - Head, Investor Relations Pekka Lundmark - President & Chief Executive Officer Marco Wiren - Chief Financial Officer Conference Call Participants Jakob Bluestone - BNP Paribas Exane Simon Leopold - Raymond James François Bouvignies - UBS Sami Sarkamies - Danske Bank Richard Kramer - Arete Daniel Djurberg - Handelsbanken Joseph Zhou - Barclays Artem Beletski - SEB Aleksander Peterc - Socié ...