On January 30, 2026, Nokia board member Timo Ihamuotila purchased 100,000 shares of Nokia at an average price of 5.374 EUR per share across multiple trading venues. The transaction, representing approximately 0.01% of the company’s outstanding stock, was conducted in full compliance with EU market abuse regulations and disclosed promptly under Finnish securities rules. This move boosts internal confidence and brings Ihamuotila’s total holdings to 250,000 shares, signaling management’s alignment with shareholder interests.

Nokia reported fourth-quarter net sales of 6.1 billion euros, up 2% year-on-year and exceeding the consensus of 6.95 billion USD equivalent, driven by a 17% increase in Optical Networks and 7% growth in Network Infrastructure. Comparable earnings per share came in at 16 euro cents, slightly below the 17-cent analyst forecast. Gross margin expanded by 90 basis points to 48.1%, while operating margin contracted by 90 basis points to 17.3% due to increased R&D and go-to-market investments. Free cash flow reached 0.2 billion euros, and net cash climbed to 3.4 billion euros. The board approved a dividend of 3 euro cents per share, payable on February 12.

Effective January 1, 2026, Nokia consolidated its operations into three segments: Network Infrastructure (net sales of 7.646 billion euros in 2025, up from 6.285 billion in 2024), Mobile Infrastructure (11.409 billion versus 12.191 billion), and Portfolio Businesses (845 million versus 717 million). Optical Networks within Network Infrastructure delivered 3.018 billion euros in sales last year, an 84% increase over 2024. The restructuring aligns resources behind AI-native networks and 6G development, while non-core units have been grouped under Portfolio Businesses for strategic review. Management projects free cash flow of approximately 1.46 billion euros in 2026, even with higher capital expenditures.