Helsinki, January 9, 2026, 15:46 EET — Regular session
Nokia Oyj shares climbed Friday after the Finnish telecom equipment maker signed a multi-year patent licence agreement with Hisense, ending all patent-related litigation between the two companies.
The stock rose about 1.1% to 5.63 euros by 15:45 EET, still roughly 15% below its 52-week high of 6.65 euros. 1
The Hisense deal refocuses attention on Nokia’s licensing business, where royalties — fees paid for the right to use its patented tech — can throw off cash without leaning as much on carrier network spending. The timing is key, with investors hunting for steadier earnings drivers after a choppy year for telecom equipment demand.
Kepler Cheuvreux upgraded Nokia to “buy” this week, saying the network equipment market is starting to stabilise after a steep contraction and that the stock’s recent pullback had made the entry point more attractive. The broker raised its target price to 6.60 euros and projected adjusted operating margins — excluding one-off items — climbing back to 13.5% by 2028 from about 9.5% in 2025, according to 5 .
Nokia said the Hisense licence covers the use of Nokia’s video technologies in Hisense televisions and will generate royalty payments, though it did not disclose financial terms. “We are delighted to have reached an agreement with Hisense,” Susanna Martikainen, Nokia’s chief licensing officer for wireless technologies, said. 2
Separately, Telit Cinterion said it will work with Nokia to pair Telit’s 5G, Wi‑Fi and satellite communications modules with Nokia’s Cognitive Digital Mine platform, targeting heavy industries such as mining, oil and logistics. “We are setting the foundation for the next decade of industrial autonomy,” said Lelio di Martino, general manager for Cognitive Digital Mine at Nokia. Telit CEO Paolo Dal Pino said the effort “brings two innovation roadmaps together.” 3
In the U.S., Nokia’s ADRs finished Thursday down 4.42% at $6.49, then were indicated about 0.92% higher at $6.55 in 6 .
Still, it’s tough to gauge the near-term payoff from licensing wins, since payments can swing quarter to quarter, and investors are still looking for proof that network spending is actually turning, not just taking a breather. A weak read on orders or cash generation would probably bring the downside case back quickly.
Broader markets were also cautious, with investors holding back ahead of a key U.S. nonfarm payrolls report and a Supreme Court ruling on President Donald Trump’s tariffs, 7 .
Nokia’s next test is Jan. 29, when it reports fourth-quarter and full-year results. Any guidance on margins and free cash flow — the cash left after operating costs and capital spending — is likely to drive the next move. 4
