HELSINKI ― Finland’s Nokia lowered its guidance for 2025 comparable operating profit on Tuesday by up to 310 million euros ($364.10 million), citing the impact of a weaker US dollar and tariffs.
“Considering currency and tariff headwinds, which are outside its (Nokia’s) control and have transpired since its Q1 results, the company feels it is prudent at this point to lower its operating profit outlook range,” Nokia said in a statement.
The network equipment maker now expects 2025 comparable operating profit to range from 1.6 billion to 2.1 billion euros instead of previously estimated 1.9-2.4 billion.
It added currency fluctuations, particularly the weaker dollar, would lower the outlook by around 230 million euros while tariffs would have an impact of 50-80 million euros.
After years of weakness, Nokia’s sales in North America have been growing steadily despite losing market share to Nordic rival Ericsson.
Nokia said its April-June comparable operating profit was 0.3 billion euros, a 32 percent drop compared to last year.
In April, Nokia reported first-quarter profit below market expectations.
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