Core Insights - Nokia has published its Annual Report for 2024, which includes audited financial statements, a review by the Board of Directors, a Sustainability Statement, a corporate governance statement, and a Remuneration Report [1][4] - The Annual Report on Form 20-F for 2024 has been filed with the U.S. Securities and Exchange Commission [1] - The financial statements are available in PDF and XHTML formats, complying with European Single Electronic Format (ESEF) reporting requirements, and have been audited by Deloitte Oy [2][3] Financial Reporting - The financial statements are marked with iXBRL tags as per ESEF requirements, and the independent auditor's report has been provided by Deloitte Oy based on a reasonable assurance engagement [3] - The ESEF financial statements in Finnish are accessible in a zip file attached to the release [3] Sustainability and Governance - Nokia's Sustainability Statement is prepared according to European Sustainability Reporting Standards (ESRS) and has been assured by Deloitte Oy [4] - The corporate governance statement and the Remuneration Report are available on Nokia's official website [2]

Financial Performance - Nokia's net sales for 2024 were EUR 19,220 million, a decline of 9% from EUR 21,138 million in 2023[34]. - The gross profit increased to EUR 8,864 million, resulting in a gross margin of 46.1%, up from 40.4% in 2023[34]. - The operating profit for 2024 was EUR 1,999 million, with an operating margin of 10.4%, compared to 7.9% in 2023[34]. - Free cash flow for the year reached EUR 2,021 million, significantly higher than EUR 665 million in 2023[34]. - Nokia's patent licensing revenue increased by 78% to EUR 1,928 million, with segment operating profit rising by 106% to EUR 1,514 million[199]. - In 2024, Nokia's Network Infrastructure net sales declined by 6% year-on-year, but the segment achieved an operating margin of 11.7% due to focused cost management[155]. - Mobile Networks' net sales decreased by 21% year-on-year to EUR 7.7 billion, yet the segment maintained an operating margin of 5.3% through improved cost competitiveness and execution[172]. - Nokia's net sales decreased by 6% year-on-year, while segment operating margin slightly increased[183]. Corporate Governance and Compliance - The company is classified as a large accelerated filer under the Securities Exchange Act[7]. - Nokia's financial statements are prepared in accordance with International Financial Reporting Standards[9]. - The company has filed all required reports under Section 13 or 15(d) of the Exchange Act during the preceding 12 months[5]. - Nokia's annual report was filed with the SEC on March 13, 2025, for the fiscal year ended December 31, 2024[2]. - The company has confirmed the effectiveness of its internal control over financial reporting as per Section 404(b) of the Sarbanes-Oxley Act[8]. - There were no error corrections or restatements required for previously issued financial statements[8]. - Nokia has not indicated any unresolved staff comments in its filings[10]. Strategic Initiatives and Market Position - Nokia's strategy focuses on technology leadership and collaboration with customers to enhance impact and drive growth[25]. - The company emphasizes ongoing cost savings programs aimed at improving operational efficiency and financial performance[21]. - Future performance expectations include targeted synergies related to market share, prices, net sales, income, and margins[21]. - Nokia is actively involved in market expansion and developing new products and technologies to maintain competitiveness[21]. - The company is addressing risks and uncertainties that could affect its business operations and financial results[22]. - Nokia's business groups include Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies, each contributing to overall performance[23]. - The company has a commitment to sustainability and corporate responsibility as part of its strategic objectives[22]. - Nokia's strategy includes six pillars aimed at sustainable, profitable growth, focusing on expanding its enterprise business and leveraging technological leadership[82][85]. - The company is increasing operational autonomy for its business groups to better address market opportunities and implement new business models[97]. Research and Development - Nokia's R&D centers focus on network fundamentals, automation, semiconductors, and AI, with a commitment to sustainable technologies[104]. - The company achieved a world record transmission rate of over 300 GBaud/s on a single wavelength carrier and a 50,000x acceleration in fiber sensing[111]. - Nokia's UNEXT initiative aims to create a unified networking experience, with a prototype demonstrating foundational capabilities launched in 2024[110]. - Nokia Bell Labs signed a multi-year research agreement with Vale to implement an AI-based mining program aimed at boosting productivity and safety[115]. - The Sustainable Energy Management venture released its first product in 2024, focusing on optimizing energy economics through digital tools[122]. - Nokia's RXRM solution enhances industrial productivity and safety, winning the iF Design Award in 2024 for its UX Design[120]. - The company launched the Event-Driven Automation platform, described as the most modern data center platform in the industry, built for the AI era[169]. Acquisitions and Partnerships - Nokia's acquisition of Infinera is projected to enhance its optical technology leadership and increase exposure to webscale customers, aiming for a double-digit operating margin in its Optical Networks business[92]. - The acquisition of Fenix Group in May 2024 will strengthen Nokia's position in the defense industry by adding innovative broadband tactical communications products to its portfolio[93]. - Nokia's acquisition of Rapid's technology and R&D unit will bolster its R&D capacity in Network as Code, enhancing its ability to automate and monetize networks[94]. - Nokia divested its wholly owned subsidiary Alcatel Submarine Networks (ASN) to focus on key strategic assets while retaining a 20% shareholding for a smooth transition[95]. - Nokia signed a strategic deal with AT&T to accelerate future-ready fiber broadband growth, reinforcing its market position[169]. - Nokia's partnership with Axiom Space aims to deliver a cellular communications system for astronauts during the Artemis III mission[126]. Market Trends and Challenges - The estimated total addressable market (TAM) for communications service providers (CSPs) declined by 5% to EUR 86 billion from 2023 to 2024, driven by macroeconomic factors such as high interest rates and inventory issues[63]. - The enterprise estimated TAM grew by 4% to EUR 25 billion from 2023 to 2024, with a forecasted strong growth of 8% CAGR until 2029, particularly in the private wireless market which is expected to reach 22% CAGR[67][68]. - The CSP market is expected to see growth in fixed wireless access, fiber, IP routing, and optical networks, driven by demand for higher speed access technologies[64]. - Geopolitical and environmental criteria are increasingly influencing investment and vendor decisions, with security and sovereignty becoming important factors[66]. Product and Technology Innovations - Nokia Technologies reported a 78% increase in segment net sales, reflecting strong performance in patent licensing and intellectual property monetization[42]. - Mobile Networks added 18,000 base station sites and gained 12 new communication service provider customers during 2024[49]. - Nokia filed a record 3,000 patents in 2024, surpassing 7,000 patent families essential to 5G[51]. - The company expanded its broadband technology leadership by demonstrating 10G, 25G, 50G, and 100G speeds over a live fiber broadband network[161]. - The introduction of the Kolibri 5G small cell solution aims to enhance cost efficiency and scalability for Communication Service Providers (CSPs)[173]. - Nokia's Optical Networks segment holds the number one position in India and the number two position in Europe and MEA, indicating strong market presence[164]. - The company completed pilots of its commercial Cloud RAN solution, verifying feature parity and performance consistency[175]. - Nokia has secured 334 commercial 5G deals and over 850 private wireless customers, with 193 in 5G[180]. - Nokia's AirScale portfolio was expanded with new energy-efficient Massive MIMO radios, supporting mobile traffic growth and accelerating 5G rollouts[194].

Core Insights - Nokia partners with Canal+ Telecom to enhance and automate fiber network in the Caribbean, specifically in French Guiana and Guadeloupe, to meet increasing demand for broadband capacity [1][5] - The deployment of Nokia's Lightspan and Altiplano solutions aims to future-proof Canal+ Telecom's network and improve operational efficiencies through automation [2][3] Group 1: Network Deployment and Technology - Canal+ Telecom will utilize Nokia's Lightspan Mini Optical Line Terminal (OLT) to accelerate Fiber-to-the-Home (FTTH) services in the French Caribbean, providing a high-capacity, low-density fiber option suitable for island environments [2] - The Lightspan solution enables Canal+ to evolve to 25G PON technology as needed, ensuring the network remains competitive and capable of handling future demands [2] - The Altiplano solution will enhance Canal+ Telecom's access network management, allowing for faster detection of network anomalies and proactive issue resolution [3][4] Group 2: Strategic Importance and Future Goals - The collaboration signifies a significant step towards a more connected future for the residents and businesses in French Guiana, Martinique, and Guadeloupe, aiming to deliver reliable and secure broadband networks [5] - Canal+ Telecom becomes the first operator in the Caribbean to implement Nokia's Altiplano platform, marking a pioneering move in intelligent network automation [4][9] - The deployment is expected to help close the digital divide, stimulate economic growth, and enhance global competitiveness for the region [9]

Group 1 - Nokia Corporation has partnered with Outer Reach Broadband to deploy a fiber network infrastructure aimed at providing 10 Gbps symmetrical broadband services, which will help bridge the digital divide in rural Maine and promote local economic development [1] - The collaboration includes Nokia's Altiplano Access Controller, a cloud-native platform that enhances network management and optimization, supporting 10G XGS-PON technology and offering a suite of automation functions [2] - Outer Reach Broadband will also utilize Nokia's Wi-Fi 6 beacons with EasyMesh technology to ensure reliable whole-home coverage, while Nokia's Corteca software will optimize Wi-Fi performance, improving customer experience and reducing costs [3] Group 2 - The demand for multi-gigabit fiber broadband is increasing due to the rise of smartphones, necessitating continuous network optimization, which positions Nokia favorably in the market for passive optical networking [4] - This partnership is expected to generate incremental revenue for Nokia and may lead to similar deals with other carriers, reinforcing its position as a leading telecommunications equipment provider [5] - Nokia's stock has increased by 42.7% over the past year, outperforming the industry growth of 42% [6]

Core Viewpoint - Stocks priced under $10 offer an attractive entry point for investors looking to diversify their portfolios and maximize growth potential without significant capital outlay [1] Group 1: Ford Motor Company - Ford Motor Company is currently trading at $9.98 with a dividend yield of 6.02% and a P/E ratio of 6.83, indicating strong value [2][3] - The company reported record revenue of $185 billion for the full year of 2024 and has a positive outlook for 2025, with significant investments in electric vehicle (EV) infrastructure totaling up to $50 billion by 2026 [3] - Ford aims to achieve 2 million annual EV sales by 2026 while maintaining its internal combustion engine vehicle business [3] Group 2: Nokia Oyj - Nokia Oyj is trading at $5.14 with a dividend yield of 1.55% and a P/E ratio of 20.58, positioning it as a key player in telecommunications [5] - The company exceeded Q4 2024 earnings expectations and projects a Comparable Operating Profit between $2.1 billion and $2.7 billion for 2025, alongside strong free cash flow [6] - Nokia's leadership in 5G infrastructure and expansion into high-growth markets like data center networking enhances its revenue diversification [7] Group 3: Goodyear Tire & Rubber Company - Goodyear is currently priced at $9.67 with a P/E ratio of 40.29, indicating potential undervaluation [8][9] - The company reported a full-year 2024 segment operating income of $1.318 billion, reflecting a $350 million year-over-year increase, driven by its "Goodyear Forward" transformation plan [11] - Goodyear aims to achieve $1.5 billion in annual run-rate benefits by the end of 2025 through cost reductions and margin expansion [10] Group 4: Standard Lithium Ltd. - Standard Lithium is trading at $1.23 with a P/E ratio of 2.08, representing a high-risk, high-reward investment opportunity in the EV battery supply chain [12] - The company focuses on innovative Direct Lithium Extraction technology and has received a conditional $225 million grant from the U.S. Department of Energy for its South West Arkansas Project [14] - Standard Lithium's projects in Arkansas position it well to meet the surging demand for lithium in EV batteries [13] Group 5: Mereo BioPharma Group - Mereo BioPharma is priced at $2.45 and focuses on developing drug candidates for rare diseases, presenting a high-risk, high-reward investment opportunity [15] - The company's pipeline includes late-stage candidates Setrusumab and Alvelestat, with Setrusumab receiving Breakthrough Therapy Designation from the U.S. FDA [16] - Mereo has a cash runway extending into 2027, providing financial stability for its clinical programs [17] Group 6: Investment Opportunities - The five identified companies, all priced under $10, present compelling investment opportunities for Q2 2025, with established firms like Ford and Goodyear offering potential value and dividends, while Nokia, Standard Lithium, and Mereo BioPharma represent higher-risk, higher-reward prospects [18]

Core Insights - Nokia Corporation has partnered with Carrix to introduce Nokia DAC, a private wireless solution aimed at optimizing operations at major marine terminals in the U.S. [1][2] - The deployment will occur in key locations such as Jacksonville, Long Beach, Oakland, and Seattle, enhancing connectivity and security in asset-intensive environments [1][2][3] Group 1: Partnership and Technology Implementation - The collaboration with Carrix will provide a reliable and secure wireless network tailored for complex industrial environments, improving operational efficiency and laying the groundwork for future digital innovations [2][3] - Nokia's advanced wireless solutions position Carrix to enhance operational efficiency and security, ensuring its marine terminals remain technologically advanced [3][4] Group 2: Industry Challenges and Solutions - The marine terminals industry faces challenges in improving connectivity and security, which Nokia addresses through its Edge Compute and AI platform, providing a digital foundation for innovation [4] - The partnership signifies a step towards smarter and more connected port operations, driving collaboration and ensuring data sovereignty [4][3] Group 3: Nokia's Growth Strategies - Nokia is well-positioned for the ongoing technology cycle, with a strong end-to-end portfolio and encouraging deal win rates in key 5G markets [5][6] - The company is experiencing healthy momentum in software and enterprise sectors, benefiting from copper and fiber deployments, and is the only global supplier offering O-RAN with commercial 5G Cloud-RAN networks [6][5] Group 4: Future Prospects - Management expects solid growth drivers from 5G Core momentum and Enterprise Campus Edge business, with stable sales anticipated in the Mobile Networks segment [7] - Nokia's recent acquisition of Infinera enhances its position in the optical networking market, making it one of the largest vendors in this space [8] Group 5: Upcoming Innovations - Nokia, in collaboration with Vodafone and RingCentral, plans to unveil Immersive Voice and Audio Services (IVAS) at MWC 2025, introducing a three-dimensional audio experience for enhanced communication [9]

Shares of Nokia (NOK 4.38%) rallied 4.4% on Monday, despite the Nasdaq Composite (^IXIC -2.64%) plunging 2.64% today, with many tech hardware stocks dropping much more than that.How did Nokia defy the odds? The company announced a partnership between itself, Verizon, and Lockheed Martin. The new partnership has apparently achieved a breakthrough in hybrid 5G communications, which could open up more of the defense market to Nokia's 5G hardware.Looking into defense communicationsOn Sunday, Nokia announced tha ...

Core Insights - The successful integration of Nokia's military-grade 5G solutions with Lockheed Martin's 5G.MIL Hybrid Base Station enhances the interoperability of commercial 5G connections with military communications systems, crucial for national defense [1][2][3] Group 1: Strategic Collaboration - Lockheed Martin, Nokia, and Verizon are collaborating to ensure seamless data routing in military operations, enhancing situational awareness and decision-making [2][6] - The integration demonstrates Nokia's flexibility in meeting defense demands while ensuring security and efficiency [2][3] Group 2: Technical Integration - Recent demonstrations showcased the interoperability of Nokia's 5G solutions with Verizon's network management, allowing for rapid integration of advanced capabilities into Lockheed Martin's systems [3][4] - The integration allows users to switch between commercial 5G and tactical LPx waveforms without interruption, enhancing operational capabilities [5] Group 3: Future Developments - The collaboration will continue to evolve with the incorporation of new technology advancements at Lockheed Martin's 5G.MIL Experimental Network site in Florida, enhancing military and national security operations [6][7] - Future efforts will focus on expanding hybrid network testing and improving interoperability across various tactical communication systems [6][7]

Core Insights - Nokia is modernizing Maxis' data center infrastructure to enhance connectivity and scalability with advanced data center switches and Event-Driven Automation (EDA) technology [1][3][4] - The upgrade aims to simplify network operations, automate workloads, and provide a secure and efficient architecture to support Maxis's business growth [2][5] Group 1: Technology and Infrastructure - Nokia will deploy its 7220 Interconnect Router (IXR) and EDA technology across multiple Maxis data centers, enabling rapid provisioning of infrastructure resources and reducing complexity [3][5] - The Nokia 7220 IXR is designed to meet high connectivity and density demands, providing unmatched scale, flexibility, and operational simplicity for data center and cloud environments [7][10] Group 2: Market Context and Strategic Importance - This collaboration reflects Malaysia's emergence as a hub for data centers and hyperscalers, driven by the growing adoption of AI-enabled cloud infrastructure [4][6] - The modernization initiative is part of a broader trend in Southeast Asia's booming data center market, emphasizing the need for reliable and scalable network solutions [5][6]

Core Insights - Nokia Corporation, in collaboration with Vodafone Group and RingCentral, is set to launch Immersive Voice and Audio Services (IVAS) at MWC 2025, which aims to revolutionize voice communication with a three-dimensional, spatial audio experience [1][4] - IVAS enhances traditional voice services by providing real-time spatial audio, improving clarity and engagement across various applications including business communication, education, and mobile calls [2][4] - The IVAS standard, developed by an alliance of 13 companies, has been integrated into 3GPP Release 18, featuring innovations like Metadata-Assisted Spatial Audio (MASA) for enhanced audio experiences on compact devices [3] Technology and Applications - IVAS technology will be showcased at MWC 2025, allowing visitors to experience multi-stream teleconferencing and immersive 1-to-1 calling with head-tracking-enabled headphones [4][5] - The technology supports industrial applications by isolating machine sounds and improving communication in noisy environments, addressing the growing demand for enhanced voice and multimedia services [4] Company Developments - Nokia is advancing its 5G portfolio, focusing on AirScale and the ReefShark chipset, with expectations of growth driven by solid 5G Core momentum and demand recovery in various end markets [6] - The company has seen its stock price increase by 18.3% over the past six months, outperforming the Zacks Wireless Equipment industry's growth of 8.1% [7]