Company: NOKBF
Filing Date: 2025-10-23
Form Type: 6-K
Source: 0001104659-25-101680
Chunk: 36

Company: NOKIA CORP
Filing Date: 2025-10-23
Form: 6-K
Chunk 36
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 Infrastructure, Mobile Networks and Cloud and Network Services segments, are subject to seasonal      
 fluctuations being generally highest in the fourth quarter and lowest in the first quarter            
 of the year. This is mainly due to the seasonality in the spending cycles of communications           
 service providers. Acquisition of Infinera On 28 February 2025, Nokia completed the acquisition       
 of Infinera Corporation (Infinera), pursuant to the definitive agreement announced on 27              
 June 2024. Infinera, the San Jose based global supplier of innovative open optical networking         
 solutions and advanced optical semiconductors, has become part of the Nokia group effective           
 as of the closing with Nokia holding 100% of its equity and voting rights. Refer to Note              
 3. Acquisitions for more information on the acquisition and its impact on Nokia’s                     
 financial position and performance. Nokia Shanghai Bell In 2017, Nokia and China Huaxin Post          
 & Telecommunication Economy Development Center (China Huaxin) commenced operations of                 
 the joint venture Nokia Shanghai Bell (NSB). The contractual arrangement provided China Huaxin        
 with the right to fully transfer its ownership interest in NSB to Nokia and Nokia with the            
 right to purchase China Huaxin’s ownership interest in NSB in exchange for a future                   
 cash settlement. To reflect this, Nokia derecognized the non-controlling interest balance             
 related to NSB and recognized a financial liability based on the estimated future cash settlement     
 to acquire China Huaxin’s ownership interest. Any changes in the estimated future                     
 cash settlement are recorded in financial income and expense. In 2024, Nokia and China Huaxin         
 together reviewed the future ownership structure of NSB. Following those discussions, in              
 the fourth quarter of 2024, Nokia exercised its call option, outlined in NSB’s shareholders'          
 agreement, to initiate the process to become the sole shareholder by purchasing China Huaxin's        
 approximately 50% share in NSB. This will allow Nokia to simplify its ownership structure             
 in China while Nokia remains committed to continue serving the local market. The execution            
 of the call option is subject to completing required steps under NSB's shareholders' agreement.       
 Comparable measures Nokia presents in these condensed consolidated financial statements financial     
 information on both a reported and comparable basis. Comparable measures exclude intangible           
 asset amortization and other purchase price fair value adjustments, goodwill impairments,             
 restructuring related charges and certain other items affecting comparability. In order to            
 allow full visibility on