Subsequent events

12 Months Ended

Dec. 31, 2025

Disclosure of non-adjusting events after reporting period [abstract]

Subsequent events

6.5. Subsequent events

Non-adjusting events after the reporting period

Nokia to operate with two primary operating segments

Nokia announced on 19 November 2025, together with its new strategy, that it will reorganize its

business into two primary operating segments to better align to customer needs and accelerate

innovation as the AI supercycle increases demand for advanced connectivity. This reorganization

took effect as of 1 January 2026.

The reorganization recognizes Network Infrastructure as a growth segment, positioned to

capitalize on the rapid, global AI and data center build-out while continuing to innovate for its

telecommunications customer base. The segment consists of three business units Optical

Networks, IP Networks and Fixed Networks and is led by David Heard.

The new Mobile Infrastructure segment brings together Nokia’s Core Networks portfolio, Radio

Networks portfolio and Technology Standards (formerly Nokia Technologies). It is positioned for

core and radio network technology and services leadership to lead the industry to AI-native

networks and 6G. The new segment brings together a portfolio whose value creation is founded on

mobile communication technologies based on 3GPP standards with a strong cash flow position

underpinned by IP licensing. It is led by Justin Hotard on an interim basis and consists of three

business units Core Software, Radio Networks and Technology Standards.

In addition, as part of its strategy work, Nokia identified several units which are not seen as core to

the future of the company’s strategy. These units were moved into a dedicated operating segment

called Portfolio Businesses while the company assesses the best value creating opportunity for

them. The units moved were:

▪Fixed Wireless Access CPE (previously in Fixed Networks in Network Infrastructure)

▪Site Implementation and Outside Plant (previously in Fixed Networks in Network Infrastructure)

▪Enterprise Campus Edge (previously in Cloud and Network Services)

▪Microwave Radio (previously in Mobile Networks)