Company: NOKBF
Filing Date: 2025-10-23
Form Type: 6-K
Source: 0001104659-25-101680
Chunk: 38

Company: NOKIA CORP
Filing Date: 2025-10-23
Form: 6-K
Chunk 38
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| New                                                                                                 
 and amended standards and interpretations New standards and amendments to existing standards        
 that became effective on 1 January 2025, did not have a material impact on Nokia's consolidated     
 financial statements. New standards and amendments to existing standards issued by the IASB         
 that are not yet effective are not expected to have a material impact on Nokia's consolidated       
 financial statements when adopted, except for IFRS 18 Presentation and Disclosure in Financial      
 Statements which was published in April 2024. IFRS 18 sets out the requirements for presentation    
 and disclosures in financial statements and it will replace IAS 1 Presentation of Financial         
 Statements. The new standard is effective for annual reporting periods beginning on or after        
 1 January 2027, with earlier application permitted. IFRS 18 is yet to be endorsed by the            
 EU. Nokia is assessing the impact of IFRS 18 on its consolidated financial statements but           
 as it’s not changing the recognition and measurement requirements it is not expected                
 to have significant impact other than on the presentation of financial information. 2. SEGMENT      
 INFORMATION Nokia has four operating and reportable segments for financial reporting purposes:      
 (1) Network Infrastructure, (2) Mobile Networks, (3) Cloud and Network Services and (4) Nokia       
 Technologies. Nokia also presents segment-level information for Group Common and Other. In          
 addition, Nokia provides net sales disclosure for the following business divisions within           
 the Network Infrastructure segment: (i) IP Networks, (ii) Optical Networks and (iii) Fixed          
 Networks. For detailed segment descriptions, please refer to Note 2.2. Segment Information,         
 in the annual consolidated financial statements for 2024. Effective 1 January 2025, Nokia           
 moved its Managed Services business into its Mobile Networks segment. The Managed Services          
 business provides outsourced network management of multi-vendor RAN networks for operators          
 and, since 2021, has been part of Cloud and Network Services segment. As the Cloud and Network      
 Services segment is increasingly transitioning towards cloud-native software sales, "as-a-service"  
 product offerings and helping customers to monetize networks through API's, Nokia believes          
 that Managed Services is more aligned and fits better with its Mobile Networks segment. Comparative 
 financial information for Mobile Networks and Cloud and Networks Services segments has been         
 recast accordingly. On 28 February 2025, Nokia completed the acquisition of Infinera Corporation    
 (Infinera), a San Jose based global supplier