On January 30, 2026, Nokia board member Timo Ihamuotila purchased 100,000 shares of Nokia Corporation at an average price of €5.374 per share across multiple trading venues. The transaction complied fully with EU Market Abuse Regulation requirements and was disclosed in a Stock Exchange Release dated January 29, 2026. This significant insider purchase represents a notable vote of confidence in Nokia’s near-term prospects, particularly as the board positions the company for growth in AI networking and next-generation connectivity solutions.

For the fourth quarter of fiscal 2025, Nokia reported net sales of €6.1 billion, up 2% year-over-year and exceeding the €6.95 billion analyst consensus when adjusted for currency and portfolio effects. Comparable gross margin expanded by 90 basis points to 48.1%, driven by a favorable product mix in Network Infrastructure. However, comparable earnings per share came in at €0.16, slightly below the consensus of €0.17, reflecting higher growth investments. Segment highlights included a 17% increase in Optical Networks sales and a 7% rise in Network Infrastructure revenue, while Cloud and Network Services declined 4% year-over-year.

Looking ahead, Nokia expects comparable operating profit for fiscal 2026 to range between €2.0 billion and €2.5 billion. The company projects Network Infrastructure net sales growth to align with its long-term compound annual growth rate target of 6%–8%, and combined IP and Optical Networks growth of 10%–12%. Given above-normal seasonality in the fourth quarter, Nokia now anticipates first-quarter FY26 net sales to decline slightly more than usual, with operating margin expected to remain at roughly last year’s level. Free cash flow is forecast at approximately €1.46 billion at the midpoint of guidance, despite higher capital expenditures.

Nokia’s strategic partnership with NVIDIA, including an equity stake and collaboration on AI-driven Radio Access Networks (AI-RAN), underscores the company’s ambition to lead in AI-enabled connectivity. Analysts highlight Nokia’s strong net cash position of €3.4 billion at year-end and forecast free cash flow generation as a key enabler of continued R&D investment. With emerging 6G standards on the horizon and defense sector opportunities growing, Nokia remains positioned for upside if AI-related network upgrades accelerate faster than the market currently anticipates.