contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


nokia-market-situation-forces-defensive-positions

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Atte Riikola

Nokia is a global telecommunications company. The company offers solutions in IP, broadband, digital health, and cloud-based systems. The customers are found in a broad base of markets and consist of large corporate customers, authorities, and private consumers. The business is established on a global level in all regions. Nokia was founded in 1865 and the head office is located in Esbo, Finland.

The White House – 20 Dec 25              Winning the 6G Race    MEMORANDUM FOR THE SECRETARY OF STATETHE SECRETARY OF WARTHE SECRETARY OF COMMERCETHE SECRETARY OF TRANSPORTATIONTHE SECRETARY OF ENERGYTHE SECRETARY OF

MEAWW News – 11 Dec 25              Trump appears confused about 6G during White House roundtable meeting with...    Trump tried to make sense of the new technology but appeared confused, even asking whether it offers a deeper view of someone’s skin

JPM unchanged (following the meeting with Hotard), target €6.90.

An AI application gave that kind of response regarding the forced ranking of employees. I agree, and apparently there has been similar discussion about the matter in the columns of Helsingin Sanomat. Not exactly a good thing for the work culture within Nokia.

This is an interesting perspective. My own understanding (based on a discussion with GPT 5.2) is that Nokia is in a quite unique position regarding system-level vertical integration, while Coherent is particularly strong in component-level integration. But this is just an amateur’s understanding.. “Coherent cannot achieve the same system-level vertical integration as Nokia in optical engines and CPO. Coherent’s strength lies in its deep control of InP materials and optical components, but the greatest value of CPO and optical engines is generated at the ASIC interface, in packaging, and in the overall system architecture – areas that Nokia masters and Coherent does not own.” “Nokia is in a quite unique position in the system-level vertical integration of CPO technology, as it combines IP systems, optical architecture, SiPh integration, and InP-based active optics under one roof. While it is not the only CPO player, few others are able to optimize the entire chain from component to system as independently… Cisco is the closest point of comparison; Cisco does not own InP production but is stronger on the ASIC side.”

In my career, I’ve been paid handsomely to improve the work culture of US companies that have tied themselves into knots. This is a very common practice. This often leads to worsening silos, where individuals don’t consider the big picture; instead, they fight tooth and nail to ensure their personal or departmental performance targets are checked off.  These targets might not have any practical value, but by meeting them, they can’t be labeled a “bad employee.” Just check your own box, don’t stand out, and don’t raise issues. Few creatures are as fearful as a white-collar worker in a US firm. Getting fired means losing your livelihood, standard of living, insurance, etc. –  Of course, we hope Nokia isn’t on this path, and certainly many companies have some “slack.”

Helsingin Sanomat – 19 Dec 25              Palkitseminen | Esa Saarinen arvostelee Nokian työntekijöiden luokittelua:...    Nokia luokittelee työntekijöitään hyviin ja huonoihin. Menetelmä tuhoaa ryhmädynamiikan, moittii yhtiön huippuvuosien hovifilosofi. Myös johtamisen professori arvostelee mallia.                             Quote from the Hesari headline. Saarinen was, after all, involved in creating the “Nokia spirit” back in the day. Hesari, through experts, takes a strong stand on the new leader’s “changes”. As an investor, one naturally considers the impact on the work of the “expert organization”.

Nokia

Nokia's market situation has continued to deteriorate, and the company will have to make significant cost savings in the coming years to defend its profitability. With a declining earnings trend, it is difficult to see any material upside to the share's low valuation multiples and future restructuring costs will erode free cash flow in the coming years.

<p>Nokia's market situation has continued to deteriorate, and the company will have to make significant cost savings in the coming years to defend its profitability. With a declining earnings trend, it is difficult to see any material upside to the share's low valuation multiples and future restructuring costs will erode free cash flow in the coming years. The company should still be able to generate a reasonably good cash flow in the coming years, which will be returned to shareholders. However, relying on this alone does not provide a sufficiently attractive expected return. </p> 

	2022	23e	24e
Revenue	24,911.0	23,214.5	22,403.5
growth-%	12.2 %	-6.8 %	-3.5 %
EBIT (adj.)	3,109.0	2,723.8	2,522.7
EBIT-% (adj.)	12.5 %	11.7 %	11.3 %
EPS (adj.)	0.44	0.35	0.33
Dividend	0.12	0.16	0.18
Dividend %	2.8 %	2.9 %	3.3 %
P/E (adj.)	9.9	15.8	16.6
EV/EBITDA	6.2	8.6	10.1

Nokia: Market situation forces to defensive positions

Login required

Key Estimate Figures19.10.2023

Forum discussions