Nokia Oyj (NOK): Análise de Pestle [Jan-2025 Atualizada]

No cenário em rápida evolução das telecomunicações globais, a Nokia Oyj fica na encruzilhada de inovação e transformação estratégica. Essa análise abrangente de pestles revela a complexa rede de fatores políticos, econômicos, sociológicos, tecnológicos, legais e ambientais que moldam a trajetória global da empresa, oferecendo um profundo mergulho nos desafios e oportunidades multifacetadas que definem o ecossistema de negócios contemporâneo da Nokia. De tensões geopolíticas a investimentos inovadores de infraestrutura 5G, a análise fornece uma perspectiva diferenciada sobre como essa gigante da tecnologia finlandesa navega pelos complexos terrenos dos mercados internacionais e do avanço tecnológico.

Nokia Oyj (NOK) - Análise de pilão: fatores políticos

Ambiente democrático estável da Finlândia

A Finlândia ocupa o primeiro lugar no Índice Mundial de Liberdade de Imprensa 2023. A Nokia se beneficia da estabilidade política da Finlândia, com uma pontuação 100% de governança democrática de acordo com o índice de democracia da Unidade de Inteligência Economista 2023.

Indicador de estabilidade política	Valor
Indicadores de governança mundial Pontuação de estabilidade política	0.84 (2023)
Classificação do índice de percepções de corrupção	3º globalmente

Regulamentos de tecnologia da UE

A Nokia deve cumprir com várias estruturas regulatórias da UE:

• Regulamento geral de proteção de dados (GDPR)
• Requisitos de conformidade da Lei de Serviços Digitais
• Regulamentos da Lei de Mercados Digitais

Custo de conformidade regulatória	Gasto estimado
Investimento anual de conformidade regulatória	€ 87 milhões (2023)

Políticas comerciais internacionais

Análise de impacto comercial:

• As restrições comerciais de tecnologia US-China afetam diretamente a cadeia de suprimentos global da Nokia
• Controles de exportação de tecnologia de tecnologia imposta pela UE afetam estratégias de mercado internacional

Impacto da política comercial	Métrica
Diversificação global do mercado	42 países (2023)
Corrente da cadeia de suprimentos Spread	17 locais de fabricação

Tensões do setor de tecnologia geopolítica

As parcerias estratégicas da Nokia se adaptam a paisagens geopolíticas complexas:

• Desenvolvimento de infraestrutura 5G em mercados não chineses
• Maior foco em parcerias de tecnologia européia e norte -americana

Métricas de parceria estratégica	2023 dados
Novas parcerias de tecnologia estratégica	8 colaborações internacionais
Investimento em P&D em tecnologias geopoliticamente neutras	€ 4,4 bilhões

Nokia Oyj (NOK) - Análise de pilão: Fatores econômicos

Investimentos globais de infraestrutura 5G impulsionam a receita de equipamentos de telecomunicações da Nokia

A receita de infraestrutura 5G da Nokia em 2023 atingiu 7,4 bilhões de euros, representando 37% do total de vendas líquidas. Os investimentos globais de rede 5G projetados para atingir US $ 1,2 trilhão até 2025.

Região	Investimento de infraestrutura 5G (2023)	Crescimento projetado
América do Norte	US $ 35,6 bilhões	18.2%
Europa	22,3 bilhões de euros	15.7%
Ásia-Pacífico	US $ 48,9 bilhões	22.5%

Taxas de câmbio flutuantes afetam o desempenho financeiro internacional da Nokia

Em 2023, a Nokia sofreu € 289 milhões de impacto negativo na tradução em moeda. A taxa de câmbio do euro a USD flutuou entre 1,05-1,12 ao longo do ano.

A desaceleração econômica pode reduzir os gastos com tecnologia corporativa e governamental

Previsão global de gastos com TIC: US ​​$ 4,6 trilhões em 2024, com potencial redução de 2,3% nos investimentos em tecnologia corporativa. Receita do segmento corporativo da Nokia: 2,1 bilhões de euros em 2023.

Setor	Redução de gastos com tecnologia	Impacto na Nokia
Governo	1.7%	€ 670 milhões de redução de receita potencial
Empresa	2.3%	€ 483 milhões potencial redução de receita

Os desafios da cadeia de suprimentos de semicondutores em andamento afetam os custos de fabricação

Os custos de fabricação da Nokia aumentaram 4,7% em 2023 devido a restrições de semicondutores. O mercado global de semicondutores no valor de US $ 573 bilhões em 2023.

Componente	Aumento de custos	Impacto da cadeia de suprimentos
Semicondutores	7.2%	12-16 semanas de entrega
Equipamento de rede	4.7%	€ 346 milhões de despesas de fabricação adicionais

Nokia Oyj (NOK) - Análise de pilão: Fatores sociais

Crescente demanda por produtos de tecnologia sustentável e ambientalmente responsáveis

De acordo com o relatório de sustentabilidade de 2022 da Nokia, a empresa reduziu suas emissões de carbono em 50% em comparação com a linha de base de 2019. O mercado global de tecnologia verde deve atingir US $ 417,81 bilhões até 2030, com um CAGR de 24,3%.

Métrica de sustentabilidade	2022 Valor
Redução de emissões de carbono	50%
Uso de energia renovável	84%
Produtos da economia circular	25%

Aumentar as tendências remotas de trabalho, aumentando as necessidades de infraestrutura de telecomunicações

As estatísticas globais de trabalho remoto indicam que 16% das empresas em todo o mundo são totalmente remotas. Espera -se que o investimento em infraestrutura de telecomunicações atinja US $ 1,1 trilhão até 2025.

Indicador de trabalho remoto	2024 Projeção
Trabalhadores remotos globais	32,6 milhões
5G Cobertura de rede	35%
Investimento de infraestrutura de rede	US $ 387 bilhões

A mudança geracional para a conectividade digital suporta as soluções de rede da Nokia

A geração do milênio e a geração Z representam 64% dos usuários globais de smartphones. Os gastos com conectividade digital são projetados para atingir US $ 4,8 trilhões até 2025.

Métrica de conectividade digital	2024 Valor
Usuários de smartphones de 18 a 40 anos	3,2 bilhões
Penetração global da Internet	66.2%
Crescimento de tráfego de dados móveis	31% anualmente

Os mercados emergentes mostram maior apetite pela tecnologia avançada de telecomunicações

Os mercados emergentes na Ásia e na África representam 65% do potencial crescimento de telecomunicações. A expansão do mercado de telecomunicações projetadas nessas regiões é estimada em US $ 672 bilhões até 2026.

Indicador de mercado emergente	2024 Projeção
Investimento de telecomunicações na Ásia	US $ 387 bilhões
Assinaturas móveis africanas	1,1 bilhão
Adoção de 5G em mercados emergentes	22%

Nokia Oyj (NOK) - Análise de pilão: Fatores tecnológicos

Investimento contínuo na pesquisa de infraestrutura de rede 5G e 6G

A Nokia investiu 4,2 bilhões de euros em pesquisa e desenvolvimento em 2022. O portfólio de patentes 5G da empresa contém mais de 2.000 famílias de patentes. Em 2023, a Nokia garantiu 8 contratos principais de infraestrutura 5G em toda a Europa e Ásia, com um valor total do contrato de 1,6 bilhão de euros.

Área de pesquisa	Investimento (milhões de euros)	Foco tecnológico -chave
Infraestrutura 5G	1,200	Desenvolvimento de equipamentos de rede
Pesquisa 6G	450	Tecnologias de rede futuras
Comunicação sem fio	650	Tecnologias avançadas de espectro

Foco estratégico na inteligência artificial e integração de aprendizado de máquina

Os investimentos de IA da Nokia atingiram 320 milhões de euros em 2023. A Companhia implantou 42 soluções de otimização de rede orientadas a IA para operadores de telecomunicações em todo o mundo. Os algoritmos de aprendizado de máquina agora gerenciam aproximadamente 17% dos processos de gerenciamento de rede da Nokia.

Aplicação da IA	Taxa de implementação	Melhoria de eficiência
Otimização de rede	62%	23% de aumento de desempenho
Manutenção preditiva	38%	15% de redução de custo

Desenvolvimento de equipamentos avançados de telecomunicações e soluções de rede

A Nokia produziu 1,2 milhão de estações base 5G em 2022. A participação de mercado de equipamentos de rede da empresa atingiu 16,4% globalmente. A receita total de equipamentos de telecomunicações foi de € 8,5 bilhões em 2022.

Categoria de equipamento	Volume de produção	Quota de mercado
Estações base 5G	1.200.000 unidades	16.4%
Interruptores de rede	850.000 unidades	12.7%

Expandindo o portfólio de tecnologia da Internet das Coisas (IoT)

O portfólio de soluções IoT da Nokia cresceu para 127 ofertas distintas de produtos em 2023. A receita do mercado da IoT corporativa atingiu 1,1 bilhão de euros, representando um crescimento de 22% ano a ano. A empresa implantou soluções de IoT em 36 países.

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

Nokia Oyj (NOK) - Análise de pilão: Fatores legais

Conformidade com os regulamentos internacionais de proteção de dados e privacidade

A Nokia investiu 127 milhões de euros em estruturas regulatórias e de conformidade em 2023. A Companhia mantém a conformidade com o GDPR, com 100% das operações europeias aderindo aos padrões de proteção de dados.

Regulamento	Status de conformidade	Investimento (€)
GDPR	100% compatível	42 milhões
CCPA	98% compatível	35 milhões
LGPD (Brasil)	95% compatível	22 milhões

Estratégias de proteção de patentes e gerenciamento de propriedade intelectual

A Nokia detém 20.000 patentes ativas em todo o mundo, com um investimento anual de propriedade intelectual de 482 milhões de euros em 2023. A empresa gera aproximadamente 1,2 bilhão de euros em receitas de licenciamento de patentes.

Categoria de patentes	Número de patentes	Investimento (€)
Tecnologias 5G	3,200	186 milhões
Infraestrutura de rede	5,600	142 milhões
AI e aprendizado de máquina	1,800	94 milhões

Aderência aos padrões globais de equipamentos de telecomunicações

A Nokia está em conformidade com 97% dos padrões internacionais de telecomunicações, incluindo os regulamentos da ITU, 3GPP e ETSI. Os custos de conformidade em 2023 atingiram € 94 milhões.

Organização padrão	Porcentagem de conformidade	Custo de conformidade (€)
ITU	99%	32 milhões
3GPP	96%	38 milhões
Etsi	95%	24 milhões

Navegando regulamentos complexos de transferência de tecnologia internacional

A Nokia gerencia a conformidade com a transferência de tecnologia em 130 países, com custos de adaptação legal e regulamentar de 213 milhões de euros em 2023. A empresa mantém uma taxa de transferência de tecnologia bem -sucedida de 92%.

Região	Conformidade de transferência de tecnologia	Custo de adaptação regulatória (€)
Europa	98%	62 milhões
América do Norte	95%	58 milhões
Ásia-Pacífico	88%	93 milhões

Nokia Oyj (NOK) - Análise de pilão: fatores ambientais

Compromisso com a neutralidade de carbono até 2030

Nokia definiu um alvo para alcançar a neutralidade de carbono até 2030. A partir de 2023, a empresa reduziu suas emissões absolutas de carbono em 50% em comparação com a linha de base de 2019.

Métrica de redução de emissão de carbono	2019 linha de base	2023 Progresso
Redução absoluta de emissões de carbono	100% (linha de base)	Redução de 50%
Uso de energia renovável	32%	66%

Iniciativas sustentáveis ​​de design de produtos e economia circular

A Nokia investiu 112 milhões de euros em design de produto sustentável e pesquisa em economia circular em 2023.

Iniciativa de Economia Circular	Investimento (€)	Ano -alvo
Pesquisa de design de produto sustentável	112,000,000	2024
Uso de material reciclado em produtos	35%	2025

Reduzindo resíduos eletrônicos através de programas de reciclagem inovadores

A Nokia coletou e reciclou 22.500 toneladas de resíduos eletrônicos em 2023.

Métrica de resíduos eletrônicos	2023 volume	Taxa de reciclagem
Resíduos eletrônicos totais coletados	22.500 toneladas métricas	85%

Desenvolvimento de infraestrutura de rede com eficiência energética

A Nokia reduziu o consumo de energia da rede em 35% por elemento de rede em 2023.

Métrica de eficiência energética	2022 linha de base	2023 Melhoria
Redução do consumo de energia da rede	Linha de base	Redução de 35%

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.