KIANEWS 
HMD Global today unveiled its latest smartphone, the HMD Fusion, an affordable device whose idea is to change functions and style with a shell. This is how the HMD Fusion will initially be distributed, but additional devices will be available later this year.
Nokia issues profit warning due to exchange rate and tariffs
23. 07. 2025 Wednesday / By: Robert Denes / Business / Exact time: BST / Print this page
N etwork technology company Nokia has been forced to issue a profit warning due to exchange rate impacts and tariffs. Nokia is cutting its 2025 comparable operating profit outlook to between €1.6 billion and €2.1 billion from a previous outlook of €1.9 billion and €2.4 billion.
Nokia said the downgrade was due to the weaker US dollar and the impact of tariffs. Nokia also released preliminary figures for the second quarter of 2025: in April-June, Nokia's net sales were approximately €4.55 billion and comparable operating profit was €0.3 billion.
Nokia said its actual business performance in the first half of 2025 was in line with expectations. Nokia maintained its free cash flow outlook and expects comparable operating profit to be between 50% and 80%. Nokia's outlook is based on an exchange rate of EUR 1 = USD 1.17, compared to EUR 1.04 in January.
Nokia expects the impact of foreign exchange rates to have a negative impact of EUR 230 million on its comparable operating profit for the current year (of which EUR 140 million is an operating profit and EUR 90 million is a negative change in the valuation of hedge fund investments due to exchange rate fluctuations, which has no cash impact).
The negative impact of tariffs on full-year operating profit is estimated to be EUR 50-80 million. Nokia will publish its second-quarter interim report on Thursday morning, July 24. Under the leadership of the new CEO, Nokia is reportedly preparing organizational changes and new savings. According to Helsingin Sanomat, Nokia is planning to cut thousands of jobs.
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