Company: NOKBF
Filing Date: 2025-07-24
Form Type: 6-K
Source: 0001104659-25-070159
Chunk: 1

Company: NOKIA CORP
Filing Date: 2025-07-24
Form: 6-K
Chunk 1
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| · | Q2                                                                      
 free cash flow of EUR 0.1 billion, net cash balance of EUR 2.9 billion. |

| · | As                                                                                           
 announced on 22 July 2025, full year 2025 comparable operating profit outlook revised        
 to between EUR 1.6 and 2.1 billion (was between EUR 1.9 and 2.4 billion) with free cash flow 
 conversion from comparable operating profit unchanged at between 50% and 80%.                |

This is a summary of the Nokia Corporation Report for Q2 and Half Year 2025 published today. Nokia only publishes a summary of its financial reports in stock exchange releases. The summary
focuses on Nokia Group's financial information as well as on Nokia's outlook. The detailed, segment-level discussion will be available
in the complete financial report hosted at . Investors should not solely rely on summaries of Nokia's
financial reports and should also review the complete reports with tables.

JUSTIN HOTARD, PRESIDENT AND CEO, ON Q2 2025 RESULTS

In the following quote, net sales comments and growth rates are referring to comparable net sales and are on a constant currency and portfolio basis.

During my first quarter as CEO, I’ve spent significant
time engaging with our stakeholders. One message has stood out: Connectivity is becoming a critical differentiator in the AI supercycle,
not only for communication service providers and hyperscalers, but also for new areas like defense and national security. With our portfolio
in mobile and fiber access, data center, and transport networks, Nokia is uniquely positioned to be a leader in this market transition.
Customer conversations have increased my optimism about our opportunity: There’s been a strong validation of what sets us apart
– our technology, partnering culture, and the exceptional talent of our people.

2

| STOCK EXCHANGE RELEASE 24 July 2025 |

At the same time, our customers expect us to engage with them as one
integrated company as they partner with us across our portfolio. Further it is clear we need to continue to evolve how we work so we
move faster, improve productivity and focus on what brings value to our customers. As a result, we’re unifying our corporate functions
to simplify how we work, build a more cohesive culture and begin to unlock operating leverage.

We have a great opportunity to drive a unified vision for the future
of networks, and I am looking forward to discussing our strategy and full value creation story at our Capital