HELSINKI, March 9, 2026, 20:20 EET
Nokia’s stock edged down 0.24% to 6.69 euros in Helsinki on Monday. On March 5, the company reported it had filed its Form 20-F. The next day, a stock-exchange filing revealed FMR LLC increased its stake to 5.26% of shares and 5.05% of voting rights, up from the previous 5.04% and 4.83%.
The pause is significant for Nokia, which is betting on artificial intelligence to drive growth as demand for standard 5G equipment remains choppy. On March 2, Reuters reported that Nokia had broadened its ties with TIM Brasil and Deutsche Telekom—deals that signal fresh revenue sources in a market where it competes with Ericsson.
Nokia said it’s teaming up with operators like BT, Elisa, NTT DOCOMO, and Vodafone, alongside Nvidia, to push AI-RAN—injecting artificial intelligence directly into radio access networks, the gear that connects phones and devices to cell towers. “AI is the new workload reshaping networks,” Chief Executive Justin Hotard said in a March 1 release. Analyst Rémy Pascal at Omdia added that with operators coming in from different regions, AI-RAN “is gaining traction and has become a strategic direction for the industry.” Nokia Corporation | Nokia
Nokia reported 2025 revenue of 19.889 billion euros, with net income coming in at 651 million euros, according to Reuters company data. As of year-end, total debt was 4.413 billion euros.
The broker calls aren’t lining up. MarketScreener data highlights that Nordea bumped its target price up to 7.2 euros on March 6, sticking with a buy, but OP Corporate Bank shifted Nokia down to reduce on March 4. The same source puts the average target at 5.997 euros—roughly 10.55% under the most recent close.
Nokia isn’t alone in its cautious approach. Ericsson, the company’s main Western competitor, announced a 15 billion Swedish crown ($1.7 billion) share buyback just after posting better-than-forecast results, Reuters reported in January. The move highlights the industry’s ongoing focus on belt-tightening while waiting for a pickup in telecom investment.
Still, there’s execution risk in play for Nokia. Back in January, Reuters said the company is forecasting 2026 comparable operating profit somewhere between 2.0 billion and 2.5 billion euros. Jefferies described that guidance as “somewhat conservative,” highlighting that Nokia’s bet on AI has ground to cover to make up for sluggish carrier spending and past contract setbacks. Reuters
Nokia flagged its next big date: first-quarter 2026 results drop April 23, the company said alongside its Q4 numbers.
