Nokia Oyj (NOK): Análisis PESTLE [Actualizado en Ene-2025]

En el panorama en rápida evolución de las telecomunicaciones globales, Nokia Oyj se encuentra en la encrucijada de la innovación y la transformación estratégica. Este análisis integral de la mano presenta la compleja red de factores políticos, económicos, sociológicos, tecnológicos, legales y ambientales que dan forma a la trayectoria global de la compañía, ofreciendo una profundidad de inmersión en los desafíos y oportunidades multifacéticas que definen el ecosistema comercial contemporáneo de Nokia. Desde las tensiones geopolíticas hasta las innovadoras inversiones de infraestructura 5G, el análisis proporciona una perspectiva matizada sobre cómo este gigante de la tecnología finlandesa navega por los intrincados terrenos de los mercados internacionales y el avance tecnológico.

NOKIA OYJ (NOK) - Análisis de mortero: factores políticos

El entorno democrático estable de Finlandia

Finlandia ocupa el primer lugar en el índice mundial de libertad de prensa 2023. Nokia se beneficia de la estabilidad política de Finlandia, con un puntaje de gobernanza democrático del 100% según el índice de democracia de la Unidad de Inteligencia Economista 2023.

Indicador de estabilidad política	Valor
Indicadores de gobernanza mundial Puntuación de estabilidad política	0.84 (2023)
Clasificación del índice de percepciones de corrupción	3er globalmente

Regulaciones de tecnología de la UE

Nokia debe cumplir con múltiples marcos regulatorios de la UE:

• Regulación general de protección de datos (GDPR)
• Requisitos de cumplimiento de la Ley de Servicios Digitales
• Regulaciones de la Ley de mercados digitales

Costo de cumplimiento regulatorio	Gasto estimado
Inversión anual de cumplimiento regulatorio	87 millones de euros (2023)

Políticas de comercio internacional

Análisis de impacto comercial:

• Las restricciones comerciales de tecnología US-China afectan directamente la cadena de suministro global de Nokia
• Controles de exportación de tecnología impuestas a la UE Impact Strategias del mercado internacional

Impacto en la política comercial	Métrico
Diversificación del mercado global	42 países (2023)
Extensión geográfica de la cadena de suministro	17 ubicaciones de fabricación

Tensiones del sector de la tecnología geopolítica

Las asociaciones estratégicas de Nokia se adaptan a paisajes geopolíticos complejos:

• Desarrollo de infraestructura 5G en mercados no chinos
• Mayor enfoque en las asociaciones tecnológicas europeas y norteamericanas

Métricas de asociación estratégica	2023 datos
Nuevas asociaciones de tecnología estratégica	8 colaboraciones internacionales
I + D Inversión en tecnologías geopolíticamente neutrales	4.400 millones de euros

NOKIA OYJ (NOK) - Análisis de mortero: factores económicos

Inversiones de infraestructura global 5G impulsa los ingresos por equipos de telecomunicaciones de Nokia

Los ingresos de infraestructura 5G de Nokia en 2023 alcanzaron € 7.4 mil millones, lo que representa el 37% de las ventas netas totales. Global 5G Network Investments proyectadas para alcanzar los $ 1.2 billones para 2025.

Región	Inversión de infraestructura 5G (2023)	Crecimiento proyectado
América del norte	$ 35.6 mil millones	18.2%
Europa	22.3 mil millones de euros	15.7%
Asia-Pacífico	$ 48.9 mil millones	22.5%

Los tipos de cambio de moneda fluctuantes impactar el desempeño financiero internacional de Nokia

En 2023, Nokia experimentó un impacto de traducción de moneda negativa de 289 millones de euros. El tipo de cambio de euro a USD fluctuó entre 1.05-1.12 durante todo el año.

La desaceleración económica puede reducir el gasto de tecnología empresarial y gubernamental

Pronóstico de gasto global de las TIC: $ 4.6 billones en 2024, con una posible reducción del 2.3% en las inversiones de tecnología empresarial. Ingresos del segmento empresarial de Nokia: € 2.1 mil millones en 2023.

Sector	Reducción de gastos tecnológicos	Impacto en Nokia
Gobierno	1.7%	670 millones de euros Reducción de ingresos potenciales
Empresa	2.3%	€ 483 millones Reducción de ingresos potenciales

Los desafíos continuos de la cadena de suministro de semiconductores afectan los costos de fabricación

Los costos de fabricación de Nokia aumentaron en un 4,7% en 2023 debido a las limitaciones de semiconductores. Mercado global de semiconductores valorado en $ 573 mil millones en 2023.

Componente	Aumento de costos	Impacto de la cadena de suministro
Semiconductores	7.2%	Tiempo de espera de 12-16 semanas
Equipo de redes	4.7%	346 millones de euros gastos de fabricación adicionales

NOKIA OYJ (NOK) - Análisis de mortero: factores sociales

Creciente demanda de productos tecnológicos sostenibles y ambientalmente responsables

Según el informe de sostenibilidad 2022 de Nokia, la compañía redujo sus emisiones de carbono en un 50% en comparación con la línea de base de 2019. Se proyecta que el mercado global de tecnología verde alcanzará los $ 417.81 mil millones para 2030, con una tasa compuesta anual del 24.3%.

Métrica de sostenibilidad	Valor 2022
Reducción de emisiones de carbono	50%
Uso de energía renovable	84%
Productos de economía circular	25%

El aumento de las tendencias de trabajo remoto aumenta las necesidades de infraestructura de telecomunicaciones

Las estadísticas de trabajo remoto global indican que el 16% de las empresas en todo el mundo son totalmente remotas. Se espera que la inversión en infraestructura de telecomunicaciones alcance los $ 1.1 billones para 2025.

Indicador de trabajo remoto	2024 proyección
Trabajadores remotos globales	32.6 millones
Cobertura de red 5G	35%
Inversión de infraestructura de red	$ 387 mil millones

El cambio generacional hacia la conectividad digital admite las soluciones de red de Nokia

Los Millennials y Gen Z representan el 64% de los usuarios mundiales de teléfonos inteligentes. Se proyecta que el gasto en conectividad digital alcanzará los $ 4.8 billones para 2025.

Métrica de conectividad digital	Valor 2024
Usuarios de teléfonos inteligentes de entre 18 y 40 años	3.200 millones
Penetración global de Internet	66.2%
Crecimiento del tráfico de datos móviles	31% anualmente

Los mercados emergentes muestran un mayor apetito por la tecnología avanzada de telecomunicaciones

Los mercados emergentes en Asia y África representan el 65% del posible crecimiento de las telecomunicaciones. La expansión proyectada del mercado de telecomunicaciones en estas regiones se estima en $ 672 mil millones para 2026.

Indicador del mercado emergente	2024 proyección
Inversión de telecomunicaciones en Asia	$ 387 mil millones
Suscripciones móviles africanas	1.100 millones
Adopción 5G en mercados emergentes	22%

NOKIA OYJ (NOK) - Análisis de mortero: factores tecnológicos

Inversión continua en investigación de infraestructura de red 5G y 6G

Nokia invirtió € 4,2 mil millones en investigación y desarrollo en 2022. La cartera de patentes 5G de la compañía contiene más de 2,000 familias de patentes. En 2023, Nokia obtuvo 8 principales contratos de infraestructura 5G en Europa y Asia, con un valor contractual total de € 1.6 mil millones.

Área de investigación	Inversión (millones de euros)	Enfoque tecnológico clave
Infraestructura 5G	1,200	Desarrollo de equipos de red
Investigación 6G	450	Tecnologías de red futuras
Comunicación inalámbrica	650	Tecnologías de espectro avanzado

Enfoque estratégico en inteligencia artificial e integración de aprendizaje automático

Las inversiones de AI de Nokia alcanzaron 320 millones de euros en 2023. La compañía desplegó 42 soluciones de optimización de red impulsadas por la IA para operadores de telecomunicaciones a nivel mundial. Los algoritmos de aprendizaje automático ahora administran aproximadamente el 17% de los procesos de gestión de redes de Nokia.

Aplicación de IA	Tasa de implementación	Mejora de la eficiencia
Optimización de red	62%	Aumento del rendimiento del 23%
Mantenimiento predictivo	38%	15% de reducción de costos

Desarrollo de equipos de telecomunicaciones avanzados y soluciones de red

Nokia produjo 1,2 millones de estaciones base 5G en 2022. La cuota de mercado de equipos de red de la compañía alcanzó el 16,4% a nivel mundial. Los ingresos totales del equipo de telecomunicaciones fueron de € 8,5 mil millones en 2022.

Categoría de equipo	Volumen de producción	Cuota de mercado
Estaciones base 5G	1,200,000 unidades	16.4%
Conmutadores de red	850,000 unidades	12.7%

Ampliando la cartera de tecnología de Internet de las cosas (IoT)

La cartera de soluciones de IoT de Nokia creció a 127 ofertas distintas de productos en 2023. Los ingresos del mercado de IoT Enterprise alcanzaron € 1.100 millones, lo que representa un crecimiento anual del 22%. La compañía desplegó soluciones de IoT en 36 países.

Segmento de IoT	Ingresos (millones de euros)	Alcance geográfico
Enterprise IoT	1,100	36 países
IoT industrial	650	24 países

NOKIA OYJ (NOK) - Análisis de mortero: factores legales

Cumplimiento de las regulaciones internacionales de protección de datos y privacidad

Nokia ha invertido 127 millones de euros en marcos de cumplimiento y regulatorio en 2023. La compañía mantiene el cumplimiento de GDPR, con el 100% de las operaciones europeas que se adhieren a los estándares de protección de datos.

Regulación	Estado de cumplimiento	Inversión (€)
GDPR	100% cumplido	42 millones
CCPA	98% de cumplimiento	35 millones
LGPD (Brasil)	95% de cumplimiento	22 millones

Protección de patentes y estrategias de gestión de propiedades intelectuales

Nokia posee 20,000 patentes activas a nivel mundial, con una inversión anual de propiedad intelectual de € 482 millones en 2023. La compañía genera aproximadamente € 1.2 mil millones en ingresos por licencias de patentes.

Categoría de patente	Número de patentes	Inversión (€)
Tecnologías 5G	3,200	186 millones
Infraestructura de red	5,600	142 millones
AI y aprendizaje automático	1,800	94 millones

Adherencia a los estándares globales de equipos de telecomunicaciones

Nokia cumple con el 97% de las normas internacionales de telecomunicaciones, incluidas las regulaciones de ITU, 3GPP y ETSI. Los costos de cumplimiento en 2023 alcanzaron € 94 millones.

Organización estándar	Porcentaje de cumplimiento	Costo de cumplimiento (€)
ITU	99%	32 millones
3GPP	96%	38 millones
Etsi	95%	24 millones

Navegación de regulaciones de transferencia de tecnología internacional compleja

Nokia administra el cumplimiento de la transferencia de tecnología en 130 países, con costos de adaptación legal y regulatoria de € 213 millones en 2023. La compañía mantiene una tasa de transferencia de tecnología exitosa del 92%.

Región	Cumplimiento de la transferencia de tecnología	Costo de adaptación regulatoria (€)
Europa	98%	62 millones
América del norte	95%	58 millones
Asia-Pacífico	88%	93 millones

NOKIA OYJ (NOK) - Análisis de mortero: factores ambientales

Compromiso con la neutralidad de carbono para 2030

Nokia ha establecido un objetivo para lograr la neutralidad de carbono para 2030. A partir de 2023, la compañía ha reducido sus emisiones absolutas de carbono en un 50% en comparación con la línea de base de 2019.

Métrica de reducción de emisiones de carbono	Línea de base de 2019	2023 progreso
Reducción de emisiones de carbono absoluto	100% (línea de base)	50% de reducción
Uso de energía renovable	32%	66%

Diseño de productos sostenible e iniciativas de economía circular

Nokia invirtió 112 millones de euros en diseño de productos sostenibles e investigación de economía circular en 2023.

Iniciativa de economía circular	Inversión (€)	Año objetivo
Investigación de diseño de productos sostenibles	112,000,000	2024
Uso de material reciclado en productos	35%	2025

Reducción de los desechos electrónicos a través de programas de reciclaje innovadores

Nokia recolectó y recicló 22.500 toneladas métricas de desechos electrónicos en 2023.

Métrica de desechos electrónicos	Volumen 2023	Tasa de reciclaje
Desechos electrónicos totales recolectados	22,500 toneladas métricas	85%

Desarrollo de infraestructura de red de eficiencia energética

Nokia redujo el consumo de energía de la red en un 35% por elemento de red en 2023.

Métrica de eficiencia energética	2022 línea de base	2023 Mejora
Reducción del consumo de energía de la red	Base	35% de reducción

Nokia Oyj (NOK) - PESTLE Analysis: Social factors

You're looking at how societal shifts are shaping the landscape for Nokia Oyj right now, in late 2025. The core takeaway is that while demand for high-capacity, secure networks is booming, public trust is fragile, creating both massive opportunities and significant reputational risks for infrastructure providers.

Growing demand for private 5G networks in industrial automation

The industrial sector is definitely leaning hard into private 5G for Industry 4.0, and Nokia is positioned well here. Research firm Omdia named Nokia the 'champion' of the private 5G network vendor sector as of May 2025, reflecting their maturity and full-stack approach. By March 2025, Nokia reported having 890 private mobile network customers. Honestly, the ROI story is compelling: a study commissioned by Nokia found that 87% of industrial enterprises deploying private 5G and edge saw a return on investment within just 12 months. Plus, 70% of these new private wireless networks are already supporting AI-driven applications, showing this isn't just about connectivity anymore.

This trend means enterprises need partners who understand operational technology (OT) as much as information technology (IT). Nokia's strength is selling the building blocks-radios and core software-even as they signal a strategic pivot away from being the primary architect and integrator for these high-touch projects.

Increased public concern over data privacy and network security

Public trust in how companies handle data is a major social headwind. Globally, people are demanding more control, and this translates directly into requirements for the networks Nokia helps build. For instance, in the US, 72% of Americans think there should be more government regulation on how personal data is handled.

The concern isn't abstract; it affects purchasing decisions. Nearly 68% of consumers worldwide are concerned about the sheer volume of data businesses collect. What this estimate hides is the direct impact on B2B decisions: 94% of organizations believe their customers won't buy from them if they don't protect data properly. In Canada, 41% of people have stopped doing business with a company following a privacy breach. If onboarding takes 14+ days, churn risk rises.

Global push for digital inclusion drives demand for affordable connectivity

Bridging the digital divide remains a huge social priority, which drives government spending and vendor focus on broad, affordable access solutions. Despite progress, a staggering 2.6 billion people globally still do not use the internet as of 2025. Initiatives like the EDISON Alliance have been mobilizing commitments to improve 1 billion lives by 2025 through better digital access.

The financial scale of this challenge is immense; bridging the gap for universal broadband access by 2030 requires nearly half a billion dollars in funding. This push creates a market for cost-effective, wide-area connectivity solutions, which is where technologies like 5G in rural areas or High Altitude Platform Stations (HAPS) become relevant for driving economies of scale.

Shift to remote work increases reliance on high-capacity fixed and mobile networks

The sustained shift to remote and hybrid work means network capacity is no longer a nice-to-have; it's foundational to economic resilience. While the initial pandemic spike has passed, the expectation for high-quality, always-on connectivity has not receded. Nokia's own forecasts suggest that enterprise and industrial traffic is set to grow 8- to 21-fold by 2033.

This reliance means that new use cases, like immersive virtual collaboration using AR/VR, demand specific performance levels. Back in 2020, Nokia projected that by 2025, these advanced 5G use cases would require bandwidth up to 100 Mbps and latency as low as 5 ms. This sustained, high-demand environment puts pressure on operators to invest heavily in network modernization, which benefits vendors like Nokia.

Here's a quick view of some key social metrics shaping the environment for Nokia:

Social Factor Metric	Value/Statistic (as of 2025 data)	Source Context
Nokia Private Mobile Network Customers	890 (as of March 2025)	Market leadership validation
Industrial Firms Seeing < 12-Month ROI on Private 5G	87%	Strong business case for enterprise adoption
Global Population Offline	2.6 billion people	Driver for digital inclusion initiatives
US Public Support for Stricter Data Handling Regulation	72%	Indicates high privacy concern
Consumers Concerned About Volume of Data Collected	68%	Indicates trust deficit

Finance: draft 13-week cash view by Friday.

Nokia Oyj (NOK) - PESTLE Analysis: Technological factors

You're looking at how Nokia Oyj is navigating the tech landscape as of late 2025, and frankly, it's a story of massive spending meeting massive opportunity. The core takeaway is that Nokia is betting its future on being a leader in both the next-gen wireless standard and the AI revolution powering it.

Rapid shift to 6G research and development (R&D) requires massive investment

The race to 6G isn't a slow jog; it's a full-out sprint, and Nokia is pouring capital into the starting blocks. They just opened a huge new R&D and manufacturing hub in Oulu, Finland, to drive this forward, uniting about 3,000 experts. This isn't just about Finland, either; Nokia announced plans to invest $4 billion in U.S. R&D and manufacturing specifically for AI-ready network connectivity. To help fund the early stages, the Nordic Investment Bank (NIB) signed an EUR 250 million loan to co-finance 5G and 6G R&D between 2024 and 2026. Plus, they were part of a joint venture that committed EUR 500 million toward a revolutionary 6G prototype showing terahertz frequency capabilities.

Here's the quick math: these investments show a commitment to staying ahead of the curve, even if it means significant near-term cash burn.

Strong patent portfolio generates substantial licensing revenue, projected near €1.5 billion in 2025

While the heavy lifting in network gear is capital-intensive, the intellectual property (IP) side is a reliable cash generator. Nokia Technologies, which handles the patent licensing, is a crucial piece of the puzzle for funding that R&D. For the third quarter of fiscal 2025, licensing accounted for 8% of the company's net sales. We project the full-year licensing revenue to hit nearly €1.5 billion for the 2025 fiscal year, building on the EUR 1.4 billion run rate seen in Q2 2025.

This revenue stream is your financial cushion. It's the money that keeps the lights on while the core infrastructure business fights for market share.

Competition from Open RAN (Radio Access Network) architecture lowers entry barriers

The move toward Open RAN-which lets operators mix and match components from different vendors-is definitely shaking up the traditional vendor hierarchy. You saw this play out when Ericsson snagged a massive $14 billion Open RAN contract with AT&T, which directly impacted Nokia's Mobile Networks revenue expectations for 2024 and 2025. To counter this, Nokia is aggressively pushing its own Open RAN-compliant solutions, like the AirScale baseband being deployed by NTT DOCOMO.

What this estimate hides is the margin pressure. Open RAN increases competition, forcing incumbents like Nokia to fight harder for every contract, often by focusing on services and software integration.

Key competitive dynamics in the RAN space:

• Mobile Networks revenue declined 13% year-over-year in Q2 2025.
• Nokia is focusing on enterprise, cloud, and Open RAN segments for growth.
• The Network Infrastructure division surpassed Mobile Networks in revenue in Q2 2025.

Artificial Intelligence (AI) integration in network management and optimization

AI isn't just a buzzword for Nokia; it's the new operating system for their products. The company is actively positioning itself to lead the AI-driven network transformation, which is central to their new strategy. They are embedding intelligence to manage complexity, which is skyrocketing with 5G evolution and customer demands.

Nokia's tools use AI and Machine Learning (ML) algorithms to follow a 'Sense-Think-Act' model for network operations. This is visible in their Digital Operations solution, which provides AI-powered orchestration and assurance, winning an award at the 2025 FutureNet MENA event. This focus on AI-native networks is a strategic priority, especially as they target growth in the Network Infrastructure segment, driven by data center build-outs supporting AI workloads.

Here is a snapshot of Nokia's financial focus areas as of their late 2025 strategy update:

Segment/Metric	Target/Value (2025-2028)	Key Driver
Network Infrastructure Net Sales CAGR	6-8%	AI and Data Center Expansion
Network Infrastructure Operating Margin	13-17% (by 2028)	Optical and IP Network Growth
Mobile Infrastructure Gross Margin	48-50%	AI-Native Networks and 6G
Group Comparable Operating Profit Target	€2.7-€3.2 billion (by 2028)	Overall Simplification and Focus

If onboarding new AI-centric solutions takes longer than expected, the margin targets for the Mobile Infrastructure segment could be at risk.

Nokia Oyj (NOK) - PESTLE Analysis: Legal factors

You're looking at the legal landscape for Nokia Oyj, and the main takeaway is that while aggressive intellectual property (IP) enforcement is a major revenue driver, the rising tide of global digital regulation-especially in the EU-is creating significant, non-trivial compliance overhead.

The legal environment is a double-edged sword for Nokia Oyj right now. On one side, the company is successfully monetizing its vast patent portfolio, which is a crucial, high-margin cash flow component. On the other, new laws mean you have to spend more time and money ensuring every network component and service adheres to a patchwork of global rules, which eats into those hard-won licensing gains.

Complex, ongoing intellectual property (IP) licensing disputes with major device makers

Nokia Oyj is leaning heavily into its patent portfolio, which is smart given the current market dynamics. This strategy is paying off handsomely, as seen by the recent confidential settlement with Amazon resolving a multi-jurisdictional dispute over video technologies. This pivot to IP-driven revenue is redefining the company's financial profile; the stock surged 50.6% in 2025, outpacing the S&P 500 Tech Index's 43.5% rise, largely due to this licensing success. It's defintely working.

The company is actively defending its IP, as shown by ongoing actions against firms like Paramount and others over video codec patents. For Nokia Technologies, the licensing unit, new smartphone deals have pushed the annual revenue run rate to about €1.3 billion. Furthermore, the company has locked in more than €800 million in contracted revenue each year through 2030 just from cellular technology licenses covering virtually the entire global smartphone market. Still, this requires constant legal vigilance.

Key IP Monetization Metrics:

• Annual contracted revenue locked in through 2030: Over €800 million.
• Nokia Technologies revenue run rate (post-new deals): About €1.3 billion.
• Stock price surge in 2025: 50.6%.

Strict new EU regulations on digital services and data governance (e.g., Digital Markets Act)

The EU's Digital Markets Act (DMA) is forcing structural changes across the digital ecosystem, and while Nokia Oyj isn't one of the designated 'gatekeepers' like Alphabet or Apple, its B2B operations are not immune. The DMA imposes strict rules on how large platforms operate, which trickles down to how Nokia Oyj must integrate its software and services. The risk here is the potential for massive fines-up to 10% of worldwide annual turnover for non-compliance-and the sheer cost of adapting systems.

Honestly, the projected compliance costs are staggering compared to the EU's initial estimates. While the Commission once projected modest costs, some analysts suggest the true compliance burden for large tech companies is in the billions annually, with one estimate putting the average large US tech company's cost at $200 million per year for DMA compliance alone. For a company like Nokia Oyj, which sells into these ecosystems, ensuring its own digital offerings meet the evolving data governance and interoperability standards requires significant engineering hours and legal oversight.

Increased scrutiny of mergers and acquisitions (M&A) in the telecommunications sector

Regulators globally are taking a closer look at consolidation, especially in critical infrastructure like telecom. This means your M&A pipeline needs airtight legal planning. We see this trend driving strategic moves, like Nokia Oyj's $2.3 billion acquisition of Infinera, which is clearly aimed at accelerating growth in AI-adjacent infrastructure, specifically data centers. Deals in the sector are focused on fiber, AI, and cloud capabilities, and each transaction requires navigating complex antitrust and foreign investment reviews across multiple jurisdictions.

The legal review process for a deal of that size is extensive, and any perceived reduction in competition in core network areas will draw intense scrutiny. You have to budget not just for the purchase price, but for the multi-year legal and regulatory integration costs that follow. This scrutiny is a constant factor when planning portfolio optimization.

Compliance costs for new cybersecurity standards across multiple jurisdictions

The legal requirement for robust cybersecurity is intensifying, driven by geopolitical tensions and the rapid adoption of AI. While specific compliance costs for Nokia Oyj are proprietary, the industry trend shows a clear upward trajectory in spending. Across the tech sector, spending on IT services-which includes compliance and security integration-is expected to grow by 9.4% in 2025. This isn't just about patching software; it involves aligning with varied national security mandates for network equipment, which adds layers of legal complexity and expense to R&D and deployment.

Here's a quick look at the financial dimensions of the legal/regulatory environment:

Legal Factor	Financial Impact/Metric (2025 Context)	Nature of Impact
IP Licensing Success	€1.3 billion annual revenue run rate (Nokia Technologies)	Revenue Generation/Positive Cash Flow
EU DMA Non-Compliance Risk	Fines up to 10% of worldwide annual turnover	Contingent Liability/Risk Mitigation Cost
General Digital Compliance Cost	Estimated $200 million/year for average large US tech firm (DMA)	Operational Expense/Overhead
M&A Activity	$2.3 billion acquisition of Infinera (Legal/Regulatory Cost Factor)	Capital Expenditure/Integration Cost
Cybersecurity Standards	Sector IT services spending growth of 9.4% in 2025	Increased R&D/Operational Expense

Finance: draft 13-week cash view by Friday, explicitly modeling potential legal settlement timing for the Paramount case and the increased operational spend related to DMA readiness.

Nokia Oyj (NOK) - PESTLE Analysis: Environmental factors

You're navigating a landscape where every major investor and enterprise customer is demanding concrete proof of climate action, not just promises. For Nokia, this means the environmental factor is now a core driver of capital allocation and sales strategy, especially as the industry shifts toward 6G planning.

Pressure from investors and customers for aggressive carbon neutrality targets

The market is definitely holding Nokia's feet to the fire on its net-zero journey. The company has an ambitious, Science Based Targets initiative (SBTi)-approved plan to reach net-zero greenhouse gas (GHG) emissions across its entire value chain by 2040, accelerating its previous 2050 goal. This pressure is clearly reflected in the near-term target: a 50% absolute reduction in Scope 1, 2, and 3 GHG emissions by 2030, using 2019 as the baseline year.

The reality check is that the bulk of the problem lies outside direct operations. In 2024, Nokia reported total GHG emissions of 26,273,422 metric tons of CO₂e, with Scope 3 emissions accounting for a massive 98.66% of that total. This means customer and supplier engagement is paramount to hitting those 2030 goals. To show leadership, Nokia is a founding member of the World Economic Forum's First Movers Coalition, pushing for zero-emissions products and services by 2030.

Here's a snapshot of their progress against these key targets:

• Total GHG emissions reduction (vs. 2019 baseline) as of 2024: 36%.
• Renewable electricity use in facilities target for 2025: 100%.
• Renewable electricity used in 2024: 87%.

Focus on developing more energy-efficient 5G and 6G network equipment

Since over 95% of Nokia's emissions come from the use of its sold products, energy efficiency in the network equipment itself is the single biggest lever they control. The focus is on decoupling network traffic growth from energy consumption. For the 5G Advanced era, which is expected to mature around 2025 to 2026, Nokia is targeting a 15% to 30% reduction in energy consumption for the same traffic load compared to earlier 5G.

Looking ahead to 6G, the vision is even more aggressive, aiming for what they call "zero watt, and zero bits"-meaning the network should consume virtually no energy when there is no traffic. They are embedding AI/ML into the core design to achieve this, which promises significant energy savings from day one of deployment. Furthermore, existing solutions are already making an impact; for example, the Nokia AVA Energy Efficiency solution can cut energy costs and carbon footprint by 30% without hurting performance.

The R&D focus is clear, as seen in recent collaborations:

• AI-driven 6G receiver development promises gains in throughput and power efficiency.
• Deployment of energy-efficient AirScale RAN solutions, powered by ReefShark System-on-Chip technology, in major customer modernization deals.
• Joint research with Ericsson on video coding technology to support high-performance, immersive media with efficiency in mind.

Increased reporting requirements on Scope 1, 2, and 3 emissions

Regulatory bodies, especially in the EU, are demanding far more granular data, and Nokia is responding by aligning its reporting. For the 2024 reporting year, Nokia prepared its Sustainability Statement in accordance with the EU's Corporate Sustainability Reporting Directive (CSRD) and the related Delegated Regulation (ESRS). This means moving beyond simple operational metrics to a full value chain accounting.

Here are the key 2024 reported figures, which you must use for your 2025 fiscal year planning assumptions:

Emission Scope	2024 Reported Value (tCO₂e)	Notes
Total GHG Emissions (Scope 1, 2, & 3)	26,273,422	Represents a 27.58% decrease from 2023.
Scope 3 Emissions (Total)	25,921,110	95.43% of total emissions, primarily from product use (Scope 3 Category 11).
Operational Emissions (Scope 1 & 2)	352,312	A 78% reduction in own facilities vs. 2019 baseline.

What this estimate hides is the challenge of Scope 3 Category 1 (Purchased Goods and Services), where Nokia must rely on supplier roadmaps and extrapolations for data coverage, though they are engaging key suppliers directly.

Waste management and circular economy mandates for electronic hardware

The push for a circular economy isn't just altruistic; it's about resource security and cost avoidance. Nokia is embedding circularity across its portfolio, aiming to reduce embodied emissions in circular products by up to 90%. Their goal is a 95% circularity rate for waste generated across their operations-offices, labs, manufacturing, installation, and product takeback-by 2030.

The latest reported performance shows progress, but work remains. For 2024, the waste circularity rate outcome was 81%. To support this, Nokia's Circular Products and Services portfolio actively manages asset recovery, refurbishment, and recycling. It's smart economics, too; recovering materials from one tonne of network equipment can yield up to €15,000 in value while avoiding disposal fees. Plus, they are targeting 100% recyclability for all packaging materials.

Key circularity actions include:

• Targeting 90% recycled content in cast aluminum for mechanical parts.
• Using recycled plastics and biodegradable material in new products.
• Refurbishing nearly 50,000 units as of 2023.

Finance: draft 13-week cash view by Friday.