Nokia sales jump 6% to €6.24 billion in Q3

Nokia today said its sales jumped 6 percent in constant currency to €6.24 billion in the third quarter of 2022 – powered by growth of 12 percent in Mobile Networks, 5 percent in Network Infrastructure and 22 percent in Enterprise sales.
Nokia Finland 2019
Nokia is expecting sales of €23.9 billion to €25.1 billion in 2022.

Nokia has generated Q3 revenue of €2.85 billion from mobile networks, €2.21 billion from network infrastructure, and €801 million from cloud and software business.

Nokia said its revenue has touched €638 million (–5 percent) in Asia Pacific, €1.533 billion (+2 percent) in Europe, €415 million (+9 percent) in China, €281 million (–1 percent) in India, €334 million (+20 percent) in Latin America, €482 million (+6 percent) in the Middle East and Africa and €2.27 billion (+10 percent) in North America.

In Q3 2022, Nokia said its System-on-Chip based 5G Powered by ReefShark product portfolio accounted for 93 percent of shipments and remains on track to reach the target of ~100 percent of product shipments by the end of 2022.

Mobile Networks business achieved strong sales growth in North America, while Europe, Latin America and Greater China also grew. Net sales in India declined in the quarter, due to the timing of 5G licenses, with net sales expected to ramp up over the coming quarters.

IP Networks sales grew 3 percent, primarily reflecting slight growth in Europe, Latin America and Middle East and Africa, while North America was flat.

Optical Networks sales were flat due to decline in Europe, which largely reflects decision to exit Russia, was offset by growth across most other regions.

Specific global supply chain challenges continue to affect the optical networking industry.

Fixed Networks grew 7 percent driven by on-going strong fiber deployments. Regionally, growth was particularly strong in Europe. Fixed Networks sales in North America declined, as continued growth in fiber deployments were offset by a slowdown in fixed wireless access.