Nokia (HEL:NOKIA) shares drop as FMR cuts stake below 5% ahead of Q2

Helsinki, July 2, 2026, 15:03 (EEST)

• Nokia Oyj HEL:NOKIA dropped 2.15% to 11.14 euros by 15:02 EEST, even as Helsinki’s main indexes traded higher.
• FMR LLC’s voting rights in Nokia dropped under 5% as of June 29, but it kept over 5% of shares.
• Shares are up 149.6% from a year ago, but the stock dropped 7.44% this week, according to TradingView data.
• Nokia reports Q2 results on July 23 and will have to show a Q2 profit bridge at 12% to 16% of this year’s comparable operating profit.

Nokia Oyj HEL:NOKIA dropped in Thursday’s midday trading in Helsinki, heading lower even as the overall market stayed firm, after new filings revealed FMR LLC’s stake slipped under the 5% voting-rights threshold. The move comes with three weeks to go before Nokia’s Q2 report. Nasdaq says Helsinki stocks trade 10:00–18:30 local time. As of 15:02 EEST, Google Finance had Nokia at 11.14 euros, down 2.15%.

The gap is notable since Nokia dropped about 2% on Thursday even as the local market was higher. Trading Economics had the Helsinki index up 0.19% and the Helsinki 25 up 0.41% on July 2.

FMR was the new stock news. Nokia said late June 30 that FMR’s indirect voting rights dropped under 5% as of June 29. In its filing, FMR held 5.20% of Nokia shares but just 4.92% of voting rights, sliding from 5.26% of shares and 5.05% of voting rights in the last update.

With Nokia showing 5,742,239,696 shares and votes in the disclosure, the drop from 5.05% to 4.92% comes out to close to 7.5 million votes. The adjustment on a share basis, from 5.26% to 5.20%, is about 3.4 million shares. FMR’s current holding, at 11.14 euros a share, was valued near 3.3 billion euros.

That’s the catch for holders: the voting-rights notice doesn’t show FMR over 5% anymore, but the reported share stake is still slightly above 5%. The filing left out a transaction price.

Nokia’s U.S. ADR NYSE:NOK drifted lower in New York trading, settling at $12.91 on Wednesday, off 2.79%. The Nasdaq Composite eased 0.66% and the Dow Jones Industrial Average was down 0.03%. Market volume hit 55.1 million shares, trailing the 50-day average of 120.2 million, according to MarketWatch.

Nokia dropped after a big rally. TradingView data showed the stock down 7.44% on the week and off 11.40% this month, but shares stayed 149.60% higher over the past year. Google Finance listed a 52-week high at 15.00 euros, meaning Thursday’s close at 11.14 euros is about 25.7% below that.

Nokia said Thursday that Orange Belgium (EBR:OBEL) picked it as the only supplier for a multi-year optical transport network upgrade in Belgium. Nokia listed its 1830 PSS platform and WaveSuite software in the announcement. No value was given for the deal. Orange Belgium CTO Philippe Toussaint called the new fixed-mobile optical network a “cornerstone of that commitment.” Nokia’s Guil Yazdi, VP and client executive for Orange, described it as a “significant project for Nokia.” Nokia Corporation | Nokia

The deal matches the piece of Nokia’s outlook that powered much of the rally. Back in April, CEO Justin Hotard said Nokia was “increasing our growth assumption” for Optical and IP Networks. Q1 Network Infrastructure sales were up 6% on a constant-currency and portfolio basis, with Optical Networks growing 20%. Nokia Corporation | Nokia

Nokia stuck with its 2026 comparable operating profit target of 2.0 billion to 2.5 billion euros, and said Q2 net sales should climb 5% to 9% from Q1. The firm expects second-quarter comparable operating profit to make up 12% to 16% of its full-year figure. Nokia’s next hard number is its own Q2 bridge.

Nokia is set to report its second-quarter and half-year numbers on July 23, according to the company’s calendar. The Q2 closed period begins June 23 and ends the day the results come out.