Company: NOKBF
Filing Date: 2025-10-23
Form Type: 6-K
Source: 0001104659-25-101680
Chunk: 21

Company: NOKIA CORP
Filing Date: 2025-10-23
Form: 6-K
Chunk 21
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 focuses             
 on discussing on a constant currency and portfolio basis. The net sales growth in the Americas       
 was driven by strong growth in Network Infrastructure and Cloud and Network Services in North        
 America, whilst Mobile Networks net sales was flat. Latin America saw a decline in Network           
 Infrastructure. Net sales in APAC grew in the third quarter. In the Rest of APAC, there was          
 strong growth across all business groups. Growth in India was driven by Network Infrastructure       
 with some growth in Mobile Networks also. Greater China saw declines mainly in Mobile Networks.      
 EMEA net sales grew in the third quarter. In Europe growth was driven by Nokia Technologies          
 which is fully reported in Europe. Network Infrastructure and Cloud and Network Services             
 grew whereas Mobile Networks declined. Middle East and Africa net sales increased driven             
 by Mobile Networks and partially offset by a decline in Network Infrastructure. Net sales            
 by customer type EUR million Q3'25 Q3'24 YoY change Constant currency and portfolio YoY change       
 Q1-Q3'25 Q1-Q3'24 YoY change Constant currency and portfolio YoY change Communications service       
 providers (CSP) 3 687 3 442 7% 7% 10 577 10 257 3% 2% Enterprise 748 532 41% 12% 2 070 1             
 491 39% 18% Licensees 391 352 11% 14% 1 118 1 464 (24)% (22)% Other(1) 2 — —                         
 23 Total 4 828 4 326 12% 9% 13 764 13 236 4% 2% (1) 2025 includes eliminations of inter-segment      
 revenues, unallocated items and certain other items. 2024 includes net sales of Radio Frequency      
 Systems (RFS), which was managed as a separate entity, and certain other items, such as eliminations 
 of inter-segment revenues. RFS net sales also include revenue from enterprise customers and          
 communications service providers. Net sales to CSPs increased 7% on a constant currency and          
 portfolio basis in Q3 2025 with growth in all business groups. Enterprise net sales increased        
 12% on a constant currency and portfolio basis in Q3 2025, with growth in AI & Cloud.                
 This was particularly evident in Optical Networks within Network Infrastructure. Nokia continues     
 to expand its presence in private wireless, now