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Nokia's Q1 result was strong and generally the company's comments dispelled at least our previous concerns about earnings development this year, which had grown due to the Russian invasion of Ukraine. In particular, the rate of the turnaround of Mobile Networks in Q1 was a positive surprise and Nokia's significant investments in improving the unit's competitiveness in the last 18 months are now delivering results. Overall, Nokia's share valuation is moderate and provides a good expected return for the next few years as the strategy progresses. However, in the short term, the generally sour stock market sentiment can hold back the upside potential in the multiples. 

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Trade. (Nokia)

Nokia is a Finnish multinational communications, information technology and consumer electronics company, founded in 1865. Nokia's headquarters are in Espoo, in the greater Helsinki metropolitan area. In 2017, Nokia employed approximately 102,000 people across over 100 countries, did business in more than 130 countries, and reported annual revenues of around €23 billion. Nokia is a public limited company listed on the Helsinki Stock Exchange and New York Stock Exchange.