Company: NOKBF
Filing Date: 2025-11-19
Form Type: 6-K
Source: 0001104659-25-113946
Chunk: 2

Company: NOKIA CORP
Filing Date: 2025-11-19
Form: 6-K
Chunk 2
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 technology standards creates for Nokia. In addition, Tommi Uitto will step down from the Group Leadership Team, effective 31 December.

Businesses moved to newly created Portfolio Businesses segment

As part of its strategy work, Nokia has conducted a thorough review of its business portfolio. This process identified several units which despite some compelling growth opportunities, are not seen as core to the future of the company’s strategy. These units will be moved into a dedicated operating segment called Portfolio Businesses while the company assesses the best value creating opportunity for them.

Nokia plans to move the following units into Portfolio Businesses:

| · | Fixed                                                                       
 Wireless Access CPE (currently in Fixed Networks in Network Infrastructure) |

| · | Site                                                                                     
 Implementation and Outside Plant (currently in Fixed Networks in Network Infrastructure) |

| · | Enterprise                                            
 Campus Edge (currently in Cloud and Network Services) |

| · | Microwave                            
 Radio (currently in Mobile Networks) |

Nokia targets to conclude on a future direction for each unit during 2026. During this transition Nokia’s priority will be to ensure continuity for customers and employees. During the past twelve months, these units generated net sales of approximately EUR 0.9 billion with an operating loss of EUR 0.1 billion.

Moving defense into dedicated unit for incubation

Nokia Defense is being launched as an incubation unit to serve as the central go-to-market and R&D hub for Nokia’s defense portfolio. Building on the strong foundation of Nokia Federal Solutions in the US, the company sees further opportunities in the US, Finland and other allied countries to deliver defense-grade solutions based on Nokia’s core technologies in Network and Mobile infrastructure.

New long-term financial target and strategic KPIs

Nokia is introducing a new long-term financial target to achieve comparable operating profit of EUR 2.7 billion to EUR 3.2 billion by 2028, an increase from the EUR 2.0 billion generated in the last 12 months (Q4’24-Q3’25). This is a separate long-term target for Nokia, not part of the group level financial outlook and replaces Nokia’s prior long-term targets to grow faster than the market, achieve a comparable operating margin of at least 13% and free cash flow conversion from comparable operating profit of 55% to 85%.

www.nokia.com

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Nokia is exposed to different trends across its primary