Telecom equipment maker Nokia said its sales fell 9 percent in 2024 as revenue from India dropped 52 percent.
Nokia’s global sales dropped 9 percent in 2024 to €19.22 billion. Nokia India’s sales decreased 52 percent to €1.373 billion.
Main telecom markets and annual revenue for Nokia
Europe — €6.362 billion (up 8 percent)
North America — €5,381 billion (down 6 percent)
Rest of Asia Pacific — €2.042 billion (down 11 percent)
Middle East & Africa — €2.033 billion (down 1 percent)
India — €1.373 billion (down 52 percent)
China — €1.134 billion (down 13 percent)
Latin America – €895 million (down 14 percent)
Nokia has generated annual sales revenue of €15.085 billion (down 15 percent) from telecommunications clients; €2.18 billion (down 4 percent) from enterprises and €1.928 billion (up 78 percent) from license business during 2024.
Nokia says CSP spending recovered in Q4 2024, which drove sales increase of 8 percent. Enterprise sales of Nokia declined by 5 percent, with declines in webscale customers. Nokia has 850 customers in the private wireless business.
2025
Looking ahead into 2025, Nokia said it expects Network Infrastructure business to sustain and drive strong growth.
Cloud and Network Services is also expected to grow with strong 5G Core momentum and growth in Enterprise Campus Edge business. Nokia is expecting stable sales in End markets in Mobile Networks.
Nokia Technologies is expected to deliver approximately EUR 1.1 billion of operating profit.
“We saw a strong finish to 2024 with 9 percent net sales growth year-on-year in Q4. I am optimistic that the improving market trends we are now seeing will persist into 2025. Alongside the net sales growth, we saw excellent profitability in Q4 with a comparable operating margin of 19.1 percent,” Nokia CEO Pekka Lundmark said.
Baburajan Kizhakedath
