share_log

Nokia Oyj | 6-K: Report of foreign private issuer [Rules 13a-16 and 15d-16]

SEC announcement ·  Jan 2 00:00
Summary by Moomoo AI
Nokia Corporation has announced that it will not meet its 2023 financial outlook due to ongoing licensing renewal discussions expected to extend into 2024. Despite courts ruling in Nokia's favor and intense negotiations, the company has prioritized the value of its patent portfolio over immediate resolutions. This, combined with customer spending constraints, means Nokia will fall short of its net sales, comparable operating margin, and free cash flow targets for the year. However, Nokia has seen a significant sequential improvement in net sales for its networks businesses in Q4 2023, with solid profitability within previously communicated margins. The company's order trends, particularly in Network Infrastructure, have improved, supporting its initial planning assumptions for 2024. Nokia will release its Q4 and full-year 2023 financial results on January 25, 2024, and provide a financial outlook for 2024 at that time.
Nokia Corporation has announced that it will not meet its 2023 financial outlook due to ongoing licensing renewal discussions expected to extend into 2024. Despite courts ruling in Nokia's favor and intense negotiations, the company has prioritized the value of its patent portfolio over immediate resolutions. This, combined with customer spending constraints, means Nokia will fall short of its net sales, comparable operating margin, and free cash flow targets for the year. However, Nokia has seen a significant sequential improvement in net sales for its networks businesses in Q4 2023, with solid profitability within previously communicated margins. The company's order trends, particularly in Network Infrastructure, have improved, supporting its initial planning assumptions for 2024. Nokia will release its Q4 and full-year 2023 financial results on January 25, 2024, and provide a financial outlook for 2024 at that time.
Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more