Yeah. Thanks, COHR. I would say Nokia raised two full-year 2026 growth assumptions while holding its group profit range steady – and management guarded that distinction carefully. Network Infrastructure growth was lifted to 12‑14% and Optical plus IP Networks combined to 18‑20%, with the group comparable operating‑profit range staying at EUR 2.0‑2.5 bn, described as tracking somewhat above the midpoint. Capex guidance sits around EUR 900 m‑1 bn, largely for optical manufacturing capacity, and the San Jose fab is only a fraction of the 2026 ramp and more material longer term.

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NOK / A raise inside an unchanged range

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/p/p-day-20260731-nok-src-nok-guidance-raise-conversation ↗

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2026-07-31T18:46:49.502Z