Nokia Due Diligence
Run due diligence on Nokia: check compliance and get alerts when suppliers change.
Finland · www.nokia.com · 23 vendors
Nokia Corporation is a Finnish multinational telecommunications, information technology, and consumer electronics company. It is a global leader in network infrastructure and advanced technologies, providing solutions across mobile, fixed, and cloud networks, and developing 5G and future mobile standards.
Resilience scores
- Digital Sovereignty: 4
- Digital Resilience: 7
- Financial Resilience: 8
Technology vendors
- Ceros — Technology — United States
- Docker, Inc. — Technology — United States
- Mentimeter AB — Technology — Sweden
- and 20 more
Services catalogue
16 services in catalogue across 4 categories; runs on 23 sub-vendors.
- Core Networks
- Software
- 1830 Photonic Service Switch
Insights
Last updated 2026-09-13 · revision 7
23 direct vendors, 210 subvendors
Direct vendors by controlling owner country (sample)
- Sweden: 1
- Japan: 1
- Canada: 2
Subvendors by controlling owner country (sample)
- India: 1
- China: 1
- UK: 1
Financials
Three-year financials
- 2025: revenue EUR 19.9B, EBIT EUR 885M, equity EUR 21.0B
- 2024: revenue EUR 19.2B, EBIT EUR 1.97B, equity EUR 20.7B
- 2023: revenue EUR 21.1B, EBIT EUR 1.73B, equity EUR 20.5B
Financial Resilience Score: 8/10
Nokia exhibits strong balance-sheet resilience, anchored by a consistent net cash position of approximately EUR 3-5 billion over the past three reporting years and gross cash reserves typically exceeding EUR 7 billion. The company holds investment-grade credit ratings (BBB from S&P, Baa2 from Moody's), restored in 2022 from prior sub-investment grade status, reflecting a structural improvement in financial standing following the post-Alcatel-Lucent integration period. Liquidity is further supported by a committed revolving credit facility. Despite a clear revenue decline in 2023 and 2024 driven by the slowdown in Communication Service Provider (CSP) capex following the 5G rollout peak, Nokia has maintained profitability with a comparable operating margin around 10%. Capital returns to shareholders have continued, with a reinstated dividend (2021), a completed EUR 600M buyback, and new buyback programs announced in 2023-2024. A major cost-saving program targeting EUR 800M-1.2B in gross savings by end-2026 (including up to 14,000 job cuts) is expected to protect margins through the cyclical trough. Legacy U.S. pension obligations from Alcatel-Lucent are largely overfunded, removing a key potential drag.
Key strengths: Consistent net cash position of EUR 3-5B, Investment-grade ratings (BBB / Baa2) restored in 2022, Gross cash reserves above EUR 7B plus committed RCF, Active EUR 800M-1.2B cost-saving program through 2026, High-margin patent licensing run-rate of EUR 1.1-1.4B/year, Overfunded U.S. pension plans, Reinstated dividend and ongoing share buybacks
Risk factors: Continued decline in CSP capex globally, High customer concentration among large CSPs, Loss of AT&T RAN contract to Ericsson (~$14B over 5 years), Competitive pressure from Ericsson, Huawei, Samsung, Cisco, Arista, USD FX exposure on significant North American revenue, Geopolitical exclusion from China market (<5% of revenue), Execution risk on Infinera integration
Revenue by geography
- North America: 30%
- Europe: 27%
- Asia-Pacific (incl. India): 20%
- Middle East, Africa & Latin America: 18%
- Greater China: 5%
Signed-in users can see whether their own company is exposed to this vendor's disruption, plus the full sub-vendor list and country breakdowns, every in-scope compliance framework plus gaps and next steps, and alerts when any of it changes.