![The headquarters of Finnish telecommunication network company Nokia are pictured in Espoo, Finland on April 27, 2017. [Getty Images]](https://image.api.sportal365.com/process//smp-images-production/pulse.ng/24042025/c9764c31-b50e-465a-8f60-810f91d8effb.png?operations=autocrop(1042:580))
)
Nokia has reported a net loss of €68 million ($73 million) for the first quarter of 2025, a sharp downturn from its €438 million profit during the same period last year.
The Finnish telecoms equipment maker attributed the loss to global trade tensions and new U.S. tariffs.
“We are not immune to the rapidly evolving global trade landscape. “However, based on early customer feedback, I believe our markets should prove to be relatively resilient,” said Nokia President and CEO Justin Hotard.
The company warned that recently imposed U.S. tariffs could lead to “some short-term disruption,” projecting a further hit of €20 to €30 million to operating profit in the second quarter.
)
)
)
READ ALSO: 12 States sue Trump over tariffs - call trade strategy ‘illegal’ and ‘reckless’
The Trump administration implemented a 10% tariff on global imports earlier this month, although plans for higher duties on goods from the European Union and other countries have been temporarily paused.
Nokia keen on financial rebound
)
Despite the challenges, Nokia reported net sales of €4.4 billion ($4.9 billion), representing a 1% year-over-year decline.
The company expressed optimism for a rebound later this year, citing anticipated growth in Network Infrastructure, Cloud and Network Services, and Mobile Networks.
READ ALSO: Trump’s 25% automobile tariffs take effect amid global backlash
In a potential bright spot, Nokia announced a contract extension with T-Mobile US, which it said indicates “positive signs of stabilisation” in its Mobile Networks division.
Hotard emphasised the company’s long-term strategy, stating that while the current environment is challenging, Nokia remains focused on positioning itself for a stronger second half of 2025.