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    Robert Sanders • Deutsche Bank

    Robert Sanders's questions to Nokia Oyj (NOK) leadership

    Robert Sanders's questions to Nokia Oyj (NOK) leadership • Q1 2025

    Question

    Robert Sanders asked about the agility of Nokia's EMS partners in moving production to mitigate tariffs and whether Nokia can pass on these costs. He also requested an update on the BEAD program timeline.

    Answer

    President and CEO Justin Hotard described the tariff situation as dynamic and emphasized that the company is evaluating all mitigation options, leveraging its flexible global manufacturing network. On the BEAD program, he reiterated that Nokia does not expect a material impact this year, viewing it as a longer-term driver for the stable, but slower-growing, Fiber business.

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    Robert Sanders's questions to Nokia Oyj (NOK) leadership • Q4 2024

    Question

    Robert Sanders asked if the reported investigation into the Juniper deal creates opportunities for Nokia and followed up by asking for the allocation of the new EUR 100 million investment between R&D and sales channels.

    Answer

    CEO Pekka Lundmark declined to comment on specific speculation regarding the Juniper deal but agreed that M&A activity in the industry generally creates opportunities for competitors. Regarding the investment, he confirmed that the EUR 100 million will be allocated to both R&D to broaden the product offering and to go-to-market initiatives to expand channel and sales presence.

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    Robert Sanders's questions to Telefonaktiebolaget LM Ericsson (ERIC) leadership

    Robert Sanders's questions to Telefonaktiebolaget LM Ericsson (ERIC) leadership • Q3 2024

    Question

    Robert Sanders from Deutsche Bank asked about spending trends from the other two major operators in North America, questioning if they are responding to AT&T's network modernization and if Ericsson has visibility into a recovery.

    Answer

    CEO Börje Ekholm declined to comment on specific customers due to the competitive market. However, he emphasized that the sales increase in North America was broader than just a single contract, implying positive contributions from other customers as well.

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