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Nokia(NOK) - 2024 Q2 - Quarterly Report

Exhibit 99.1 1 Nokia Group January-June 2024 compared to January-June 2023 Net sales In the first half of 2024, net sales were EUR 8 910 million compared to EUR 11 013 million in the first half of 2023, representing a decrease of 19% compared to the year-ago period. In addition to the negative impact from foreign exchange rate fluctuations, the performance was mainly driven by declines across Mobile Networks, Network Infrastructure and Cloud and Network Services. This was somewhat offset by growth in Nokia ...