Nokia said its revenue in Q2-2025 rose 2 percent year-over-year in reported sales, reaching EUR 4,546 million.
Nokia has generated sales of EUR 1,904 million (up 25 percent) from Network Infrastructure, EUR 1,732 million (down 17 percent) from Mobile Networks, EUR 557 million (up 10 percent) from Cloud and Network Services, and EUR 357 million (flat) from Nokia Technologies in Q2-2025.
Nokia CEO Justin Hotard said: “We expect a stronger performance in the second half of 2025, especially in Q4 due to typical seasonality. The business is broadly tracking expectations, with anticipated strong growth in Network Infrastructure, growth in Cloud and Network Services, and stable Mobile Networks sales on a constant currency basis.”
“Nokia Technologies is projected to deliver around EUR 1.1 billion in operating profit. However, the company has lowered its full-year operating profit outlook to EUR 1.6–2.1 billion from the previous EUR 1.9–2.4 billion range due to external pressures from a weaker US dollar and tariffs, which together are expected to reduce profit by up to EUR 310 million,” Justin Hotard said.
Enterprise sales surged 15 percent.
Sales to communication service providers declined 4 percent to €3.47 billion.
For the first half of 2025, sales remained flat at EUR 8,936 million.
Regions
India
In India, Nokia’s revenue declined 6 percent in Q2-2025 to EUR 310 million, primarily due to project timing issues affecting Mobile Networks. Despite this, the region showed strength in other areas, with Fixed Networks benefiting from ongoing fixed wireless access deployments and Cloud and Network Services seeing growth. For the first half of 2025, India’s net sales rose 30 percent, making it a key driver of APAC growth overall. Reliance Jio and Bharti Airtel are the main customers of Nokia India. Nokia disposed of its equity investment in Vodafone Idea in Q2 2025, recognizing a €9 million fair value gain.
Nokia’s revenue in the Americas grew 1 percent to EUR 1,572 million, despite a drop in Mobile Networks, especially in North America, which had benefited from a one-time contract resolution in the prior year. Network Infrastructure and Cloud and Network Services showed growth, particularly in Optical Networks. Sales in Latin America were EUR 176 million (down 19 percent). Sales in North America were EUR 1,397 million (up 4 percent). Nokia works with U.S. operators like AT&T, Verizon, and T-Mobile US.
In APAC, revenue fell 4 percent to EUR 1,020 million, driven by weaker performance in Mobile Networks, especially in Greater China and India. Network Infrastructure grew across the region, and Cloud and Network Services had mixed results with strength in India and Rest of APAC partially offset by declines in Greater China. Sales in China fell 19 percent to EUR 239 million. Sales in Rest of Asia Pacific region rose 6 percent to EUR 471 million. Nokia faces tough competition from Huawei and ZTE in China.
In EMEA, revenue rose 6 percent to EUR 1,954 million, led by Europe where all business groups contributed to growth. Sales in Europe rose 6 percent to EUR 1,501 million. Sales in the Middle East and Africa declined 1 percent to EUR 453 million as gains in Cloud and Network Services were more than offset by lower Mobile Networks and Network Infrastructure sales.
Baburajan Kizhakedath
