1st Quarter Results,etc

Nokia Corporation
27 April 2000



Nokia starts millennium with outstanding growth and profitability

Nokia has started the new millennium with continued strong operating
results. Net sales growth of 69% to EUR 6 537 million, compared to
the first quarter of 1999, was fueled by strong market demand and
Nokia's highly competitive product range. Operating profit was EUR
1 316 million, an increase of 71% compared to the same period in
1999. Operating margin was 20.1%, up from 19.8% a year ago.

Jorma Ollila, Nokia Chairman and CEO, said: 'I am very pleased with
the outstanding progress that has continued in all our operations
during the first quarter of 2000. In a highly competitive and fast-
moving environment we have continued to achieve industry-leading
growth and profitability, and increased market share in many areas. We
will continue to keep the interests of our customers and partners at
the forefront and endeavor to provide them with technologies and
solutions that help them retain a competitive edge. The whole of our
personnel deserves special thanks for their extraordinary
achievements.'

'Based on current market conditions and our globally strong
position, we are confident we can achieve full-year revenue growth
at, or higher than, the earlier stated 30 - 40% range, combined with
continued strong profitability', said Ollila.


EUR million                 1Q/2000  1Q/1999 Change%   1999
Net sales                  6 537    3 870    + 69    19 772
   Nokia Networks          1 502    1 108    + 36     5 673
   Nokia Mobile Phones     4 839    2 577    + 88    13 182
   Nokia Ventures            211       64   + 230       415
   Organization
Operating profit           1 316      768    + 71     3 908
   Nokia Networks            273      226    + 21     1 082
   Nokia Mobile Phones     1 161      616    + 88     3 099
   Nokia Ventures           - 70     - 23             - 175
   Organization
   Common Group Expenses    - 48     - 51              - 98
Profit before tax and      1 333      758    + 76     3 845
minority interests
Net profit                   891      505    + 76     2 577
EPS, EUR                                               
   Basic, split-adjusted    0.19     0.11    + 73      0.56
   Diluted, split-adjusted  0.19     0.11    + 73      0.54

NOKIA IN JANUARY - MARCH 2000

(International Accounting Standards, IAS, comparisons given to the
first quarter of 1999)

Nokia's net sales increased by 69% and totaled EUR 6 537 million
(EUR 3 870 million). Sales of Nokia Networks increased by 36% to EUR
1 502  million (EUR 1 108 million) and sales of Nokia Mobile Phones
increased by 88% to EUR 4 839 million (EUR 2 577 million). Sales of
Nokia Ventures Organization increased by 230% and totaled EUR 211
million (EUR 64 million).

Sales growth was strong in all regions. Europe accounted for 53% of
net sales, Asia-Pacific for 23% and the Americas for 24%. The five
largest markets were the U.S., China, Germany, the UK and Italy.
Nokia Networks' sales grew fastest in the Asia-Pacific region,
whereas the strongest sales growth for Nokia Mobile Phones took
place in the Americas.

Operating profit increased by 71% to EUR 1 316 million (EUR 768
million), representing an operating margin of 20.1% (19.8%).
Operating profit in Nokia Networks increased by 21% to EUR 273
million (EUR 226 million), representing an operating margin of 18.2%
(20.4%). Operating profit in Nokia Mobile Phones increased by 88% to
EUR 1 161 million (EUR 616 million), representing a continued strong
operating margin of 24.0% (23.9%). Nokia Ventures Organization
reported an operating loss of EUR 70 million (EUR 23 million).
Common Group Expenses, which incorporates Nokia Head Office and
Nokia Research Center, totaled EUR 48 million (EUR 51 million).

Financial income totaled EUR 20 million (financial expense 
EUR 8 million). Profit before tax and minority interests was 
EUR 1 333 million (EUR 758 million).  Net profit totaled EUR 
891 million (EUR 505 million).

Earnings per share (adjusted for the share split as of April 10,
2000) increased to EUR 0.19 (basic) and to EUR 0.19 (diluted)
compared to EUR 0.11 (basic) and EUR 0.11 (diluted).

At March 31, 2000, Nokia's net debt-to-equity ratio (gearing) was 
-42% (-41% at the end of 1999). Capital expenditures amounted to EUR
311 million (EUR 179 million).

The average number of employees during the quarter was 55 516. At
the end of March, Nokia employed a total of 56 539 people.

At the Annual General Meeting on March 22, Nokia shareholders
approved a four-for-one share split resulting in an amendment of the
par value of each share to 6 euro cents. Today, the total number of
issued shares is 4 673 086 100.

Nokia repurchased a total of 2 532 000 shares (split adjusted) over
the Helsinki Exchanges at an aggregate price of EUR 126.8 million
during February 21 - March 2. The shares were repurchased to be used
for the purposes specified in the authorization held by the Board.
The aggregate par value of the shares purchased is EUR 151 920 and
they represent 0.05 % of the total number of shares and the total
voting rights. The repurchase did not have any significant effect on
the relative holdings of the other shareholders of the Company or on
the voting powers among them.

On March 31, the Group companies owned 3 916 776 Nokia shares (split
adjusted). The shares have an aggregate par value of EUR 235 006.50
and represent 0.08% of the total number of shares and the total
voting rights.

In March, Nokia acquired Network Alchemy, a leading provider of IP
Clustering solutions for approximately USD 335 million, paid mainly
in Nokia shares. The acquisition provides a platform from which
Nokia intends to build high availability, highly scalable and secure
solutions required to support the large number of on-line
transactions envisioned in a Mobile Information Society.

In January, Nokia completed the exit from its display products
business by selling Nokia Display Products' branded business to
ViewSonic Corporation.

COOPERATION AGREEMENTS

During the first quarter, Nokia signed several cooperation
agreements relating to WAP (Wireless Application Protocol), home
networks and Bluetooth short range radio technology.

In February, Nokia and Amazon.com announced a global co-operative
agreement to provide commercial services to WAP-enabled phone users.
The two companies have worked together developing Amazon.com's WAP
service and will also promote the services on the Club Nokia
website. In March, Nokia demonstrated the first phase results of
payment solutions for mobile electronic commerce developed with Visa
and MeritaNordbanken.

In February, Nokia signed a pioneering home network agreement with
the major European telecommunications operator KPN for development
and trial of wireless LAN (Local Area Network) based communications
products for the home, combining xDSL (Digital Subscriber Line) and
WLAN technologies.

In February, Nokia together with six other industry partners founded
the SyncML initiative. This initiative develops and promotes open
industry specification for universal synchronization of remote data
and information across multiple networks, platforms and devices.

Also in February, Nokia and Fuji Photo Film Co. Ltd of Japan
announced that they have agreed to co-operate in developing
Bluetooth technology to transmit digital still images between mobile
devices and cameras.

Nokia Networks' strong growth continued in all geographical areas,
driven by the need to increase capacity in today's networks. Order
inflow developed positively.

Strong subscriber growth continued in GSM networks, with mobile
operators investing in network upgrades, capacity increases and WAP
and GPRS (General Packet Radio Service) infrastructure, laying the
ground for new services. Nokia won five new GSM customers in Italy,
Finland, Venezuela and China. Expansion contracts were signed with
operators in the Asia-Pacific region and Europe. In addition,
operators are now looking toward the deployment of indoor GSM
coverage and Nokia has delivered its new Nokia InSite indoor base
station solution already to 15 operators worldwide.

Orders for the Nokia Artus Messaging Platform were signed with
several operators and Internet service providers in Europe and
China. The Nokia Artus MAX Platform was launched, providing a WAP
portal feature that allows operators to customize and differentiate
their service offerings.

As mobile data continues to form a growing proportion of traffic in
GSM networks, operators are upgrading their networks for future
packet data capability. Nokia signed six new GPRS contracts during
the period and has delivered more than 30 GPRS core network
solutions to date.

As end-user services evolve toward mobile multimedia, Nokia
introduced its Enhanced Data Rates for Global Evolution (EDGE)
technology solution for both GSM and TDMA networks. Nokia's Third
Generation System Solution was expanded and the unique triple mode
concept combining GSM, EDGE and Wideband Code Division Multiple
Access (WCDMA) was brought to the Nokia MetroSite Base Station
family. As part of its All-IP 3G vision Nokia launched its
breakthrough concept for IP based Radio Access Networks (RAN) to
support the quality of service and capacity requirements that mobile
voice and data network operators will demand in future.

Nokia has been chosen as a partner with Suomen 2G and Suomen 3G in
Finland and Japan Telecom, for the introduction of advanced mobile
multimedia networks. These are among the first Third Generation
operators in the world.

The demand for high speed fixed line access to the Internet
continues to grow. Nokia received orders during the period to supply
broadband DSL networks in the Asia-Pacific region, Europe and the
United States.

Nokia continued to develop its high value-added Professional
Services offering. In February, Nokia launched its Connecting@Care
concept, combining Nokia's new Care packages, processed-based
network and service management solutions, Care management, systems
integration know-how and Nokia Online Services. This enables
seamless end-to-end service support for Nokia's operator customers
and Internet service providers.

During the first quarter, a new division was also created called
Production Operations, to oversee the manufacture of Nokia Networks
products globally.

Nokia Mobile Phones. The growth of the global mobile phone market
continued at about the previous years' level with the highest market
growth taking place in Europe. Nokia estimates that there are
presently approximately 520 million mobile subscribers worldwide.

Nokia Mobile Phones' strong volume growth continued to exceed market
growth rates in all geographic regions and further solidified
Nokia's global market leadership. The strongest sales volume growth
for Nokia took place in the Americas region.

During the first quarter, Nokia complemented the range of its WAP-
enabled products by launching three new models that will be
available in the coming months: the Nokia 6210, 6250 and 9110i.

In the classic product category, the Nokia 6210 (GSM 900/1800) is
primarily targeted at mobile professionals. In addition to WAP, the
phone supports High Speed Circuit Switched Data (HSCSD) with data
speeds of up to 43.2 kpbs.

In the communicator product category, Nokia is introducing the Nokia
9110i, which supports WAP, Quick Imaging and Find applications as
new add-on software. The 9110i also has the Outlook 2000 support for
PC Suite and MacSuite software for Macintosh computers. The add-on
software will be available for the current Nokia 9110 users as well.

Nokia is also adding a new category of tough products to its product
portfolio. The first phone in this category, the Nokia 6250 (GSM
900/1800) is targeted primarily at outdoor professionals and
hobbyists. This WAP-enabled phone is water resistant, shockproof and
dustproof.

The Nokia 6210, 6250 and 9110i are expected to be available in the
third quarter. Shipments of the previously announced Nokia 7160
(TDMA) and 7190 (GSM1900) WAP-enabled phones are also expected to
start in the third quarter.

In the premium category, Nokia recently introduced the Nokia 8890
(GSM 900/1900). The phone is operational in five continents and over
120 countries using GSM standards and is primarily targeted at world
travelers. The Nokia 8890 is expected to be available in the second
quarter.

To meet the need of the fast growing Japanese i-mode market, Nokia,
together with NTT DoCoMo, introduced Nokia's first i-mode phone, the
NM502i. It is the first phone in the market to offer bi-lingual
Japanese/English i-mode operation. Shipments of the NM502i started
in March.

Nokia Ventures Organization. Nokia continued to invest in the future
and focused on new business development and strategic IP oriented
products for the enterprise markets. At CeBit, Nokia introduced
various enhancements to its IP security appliance solution,
including the latest release of the Check Point VPN-1 Appliance
product line version 4.1 and the Luna VPN Accelerator Card for the
Nokia IP330 and IP650 appliance families in Europe. Furthermore,
Nokia announced full Internet access monitoring and management for
its line of IP Network appliances through a partnership with
Websense, Inc. In March, the Check Point/Nokia VPN-1 Appliance was
named the worldwide market leader in the 1999 Virtual Private
Network (VPN) dedicated appliance market based on independent market
research from Infonetics Research, Inc.

During the quarter, Nokia introduced the newest version of its
corporate WAP server for enterprise customers and mobile Internet
service providers. The Nokia WAP Server, Version 1.1, enables
companies to provide their employees and business partners with
mobile access to corporate intranets and extranets.

Nokia Multimedia Terminals experienced considerable volume growth
and positive development particularly in the German market after the
launch of a new product generation. To date, Nokia Multimedia
Terminals has delivered 2 million digital multimedia terminals to
the Kirch Group, making it the largest single account for digital
multimedia terminals in Europe.

STATEMENT BY JORMA OLLILA, CHAIRMAN AND CEO:

I am very pleased with the outstanding progress that has continued
in all our operations during the first quarter of 2000. In a highly
competitive and fast-moving environment we have continued to achieve
industry-leading growth and profitability, and increased market share 
in many areas. We will continue to keep the interests of our customers
and partners at the forefront and endeavor to provide them with
technologies and solutions that help them retain a competitive edge.
The whole of our personnel deserves special thanks for their
extraordinary achievements.

With strong growth in the first quarter, Nokia Networks continued to
close major sales contracts during the beginning of the second
quarter, establishing a solid base for positive development in the
first half of 2000. Nokia Mobile Phones' continued outstanding
growth has enabled it to further strengthen its leading market
position. Operating margin in Nokia Mobile Phones remained strong,
and our sales volumes increased substantially in spite of tightness
in the availability of components from certain suppliers. We have
already launched several new phone models, which are scheduled to be
available in the market in the coming months. Our recently
established business unit, Nokia Ventures Organization, has already
shown success in facilitating and boosting Nokia's long term
business development.

Our belief in the importance of the mobile Internet has been further
strengthened as operators, new wireless services providers and the
leading companies in many service sectors continue to invest in
technologies that enable the mobile Internet. We expect strong
market growth to continue as consumers begin to embrace the benefits
of mobile communications in all major markets. Mobile Internet has
already shown itself to be not just a promise, but a reality that is
rapidly arriving.

Nokia has a vision of the Mobile Information Society where
technological innovations are used to allow people to access
applications and services irrespective of place and time. We are at
the forefront of the key techological enablers such as advanced packet 
radio communication (e.g. General Packet Radio Service GPRS, Enhanced 
Data Rates for Global Evolution EDGE and Wideband Code Division 
Multiple Access WCDMA), and browsers for wireless environments 
(e.g. Wireless Application Protocol WAP and i-mode). These 
technologies provide always-on easy access to rich Internet content 
and services. Our vision and strong brand help give consumers, 
operators and other customers confidence in partnering with us. 
We believe that we are well placed to further strengthen our leading 
market position in many markets during 2000.

A major milestone was reached with our partnerships for third
generation mobile systems in Japan and Finland. It is our aim to
achieve a leading position in the next wave of mobile communication.
To achieve this, we are deeply committed to supplying our customers
and partners with leading-edge solutions.

During the beginning of this year we created and participated in
several partnerships, particularly in the area of new services and
mobile Internet. We believe it is essential to take the lead in
stimulating the creation of such partnerships. In the new economy,
business will be conducted over the Internet and increasingly with
the help of electronic services. It is central to our strategy that
we are early in offering our suppliers, partners and customers web-
based tools and services to facilitate this.

Based on current market conditions and our globally strong position,
we are confident we can achieve full-year revenue growth at, or
higher than, the earlier stated 30- 40% range, combined with
continued strong profitability. As always, reaching our target is
dependent on various factors which exist within the organization as
well as external matters that involve risks and uncertainties.
However, it is our objective to make sure that we continue to meet
the expectations of our customers, allowing us to be the leading
architect of the Mobile Information Society.                


CONSOLIDATED PROFIT AND LOSS ACCOUNT, IAS, EUR MILLION
(unaudited)
                          1-3/2000  %   1-3/1999  %  1-12/1999   %
                                                      
                                                                  
Net sales                  6 537   100   3 870   100    19 772   100
Cost of sales             -4 012        -2 329         -12 227   
Research and development    -530          -352          -1 755    
expenses                                                          
Selling, general and        -660          -407          -1 811    
administrative
expenses                                                          
Amortization of goodwill     -19           -14             -71       
                                                                  
Operating profit           1 316   20.1    768   19.8    3 908   19.8
                                                               
Share of results of           -3            -2              -5        
associated
companies                                                         
Financial income and          20            -8             -58       
expenses
                                                                  
Profit before tax and      1 333   20.4    758    19.6   3 845   19.4
minority                                                         
interests                                                         
                                                                  
                                                                  
Tax                         -416          -246          -1 189    
Minority interests           -26            -7             -79       
                                                                  
Net profit                   891   13.6    505    13.0   2 577   13.0
                                                                     
                                                                  
Earnings per share (EUR)                                          
(split adjusted)                                                  
Basic                        0.19         0.11            0.56      
Diluted                      0.19         0.11            0.54      
                                                                  
Average number of shares                                          
(1 000 shares, split                                              
adjusted)
Basic                   4 653 944    4 587 512       4 593 761    
                        
Diluted                 4 788 256    4 731 424       4 743 185    
                        
                                                                  
                                                                  
Depreciation              161           144             665       



Currency rate March 31, 2000, 1 EUR = 0.966 USD, 1 EUR = 5.94573 FIM


NET SALES  BY BUSINESS GROUP, EUR million
(unaudited)

                                 1-3/2000 1-3/1999 Change % 1-12/1999
                                                                 
Nokia Networks                      1 502   1 108    35.6    5 673
Nokia Mobile Phones                 4 839   2 577    87.8   13 182
Nokia Ventures                        211      64   229.7      415
Organization                  
Discontinued Display                    -     134              580
Products
Inter-business group                  -15     -13              -78
eliminations
                                                                
Nokia Group                         6 537   3 870    68.9   19 772
                                                                     

OPERATING PROFIT BY BUSINESS GROUP, EUR MILLION
(unaudited)
                                 %               %               %
                       1-3/    of net   1-3/   of net  1-12/   of net
                       2000    sales    1999   sales   1999    sales
                                                         
                                                                  
Nokia Networks           273    18.2    226     20.4   1 082   19.1
Nokia Mobile Phones    1 161    24.0    616     23.9   3 099   23.5
Nokia Ventures           -70   -33.2    -23    -35.9    -175  -42.2
Organization                                        
Common Group Expenses    -48            -51              -98     
                                                                 
Nokia Group            1 316    20.1    768     19.8   3 908   19.8

                                                                     
CONDENSED CASH FLOW STATEMENT, IAS, EUR MILLION
(unaudited)
                                                           
                                          1-3/2000 1-3/1999 1-12/1999
                                                                 
Net cash from operating activities            608      865   3 102
                                                                 
Net cash used in investing activities        -396     -311  -1 341
                                                                 
Net cash used in financing activities        -210     -494    -592
                                                                 
Net increase in cash and cash                   2       60   1 169
equivalents
                                                                 
Cash and cash equivalents at beginning      4 194    2 930   2 990
of period
                                                                 
Cash and cash equivalents at end of         4 196    2 990   4 159
period                                                               

DIVIDENDS
In 2000 dividends to Nokia's shareholders (EUR 931 million) were
booked as liability at the end of the first quarter. Cash flow
impact will be shown in the second quarter.
In 1999, net cash used in financing activities included dividends
paid EUR 558 million.

Currency rate March 31, 2000, 1 EUR = 0.966 USD, 1 EUR = 5.94573 FIM

CONSOLIDATED BALANCE SHEET, IAS, EUR million
(unaudited)
                                    31.3.2000   31.3.1999 31.12.1999
                                 
ASSETS                                               
                                                     
Fixed assets and other non-current                   
assets
    Intangible assets                   1 206         620        838
    Property, plant and equipment       2 159       1 411      2 031
    Investments in associated              91          89         76
    companies
    Investments in other companies        155          66         68
    Deferred tax assets                   366         267        257
    Other assets                          343          53        217
                                        4 320       2 506      3 487
Current assets                                       
    Inventories                         1 993       1 500      1 772
    Receivables                         5 548       3 719      4 861
    Short-term investments              3 312       2 321      3 136
    Bank and cash                         884         669      1 023
                                       11 737       8 209     10 792
                                                     
Total assets                           16 057      10 715     14 279
                                                     
SHAREHOLDERS' EQUITY AND LIABILITIES
                                                     
Shareholders' equity                                 
    Share capital                         280         291        279
    Share issue premium                 1 411         880      1 079
    Treasury shares                      -151        -110        -24
    Translation differences               282         205        243
    Retained earnings                   5 805       3 824      5 801
                                        7 627       5 090      7 378
                                                     
Minority interests                        137          74        122
                                                     
Long-term liabilities                                
    Long-term interest bearing            274         238        269
liabilities
    Deferred tax liabilities               78          88         80
    Other long-term liabilities            62          48         58
                                          414         374        407
Current liabilities                                  
    Short-term borrowings                 685         878        792
    Current portion of long-term            1          18          1
    debt
    Accounts payable                    2 141       1 480      2 202
    Accrued expenses                    5 052       2 801      3 377
                                        7 879       5 177      6 372
                                                     
Total shareholders' equity and         16 057      10 715     14 279
liabilities
                                                     
Interest-bearing liabilities              960       1 134      1 062
Shareholders' equity per share, EUR      1.63        1.11       1.58
Number of shares (1000 shares) *    4 669 169   4 590 175  4 652 679
                                  
(split-adjusted)                                     
* Shares owned by Group companies are excluded
Currency rate March 31, 2000, 1 EUR = 0.966 USD, 1 EUR = 5.94573 FIM


STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY, EUR MILLION
(unaudited)

                                          Trans-              
                         Share            lated          
                 Share   issue   Treasury differen- Retained   
                 capital premium shares   ces       earnings Total
                                                  
Balance at                                                   
December 31,     255       909     -110     182     3 873    5 109
1998
                                                             
Share issue                  7                                   7
Bonus issues      36       -36                                   -
Dividend                                             -586     -586
Translation                                  23                 23
differences
Other increase/                                       32        32
decrease, net                                                
Net profit                                           505       505
Balance at                                                   
March 31, 1999   291       880     -110     205     3 824    5 090
                                                             
Balance at                                                   
December 31,     279     1 079      -24     243     5 801    7 378
1999
                                                             
Share issue        1       332                                 333
Acquisition of                     -127                       -127
treasury
shares                                                       
Dividend                                             -931     -931
Translation                                  39                 39
differences
Other increase/                                        44       44
decrease, net                                                
Net profit                                            891      891
Balance at                                                   
March 31, 2000   280     1 411     -151     282      5 805   7 627


COMMITMENTS AND CONTINGENCIES, EUR MILLION
(unaudited)
                                                     GROUP   

                                       31.3.2000 31.3.1999 31.12.1999
                                         
                                                             
Collateral for                                              
own commitments
Mortgages                                   12       6       6
Assets pledged                               3       6       3
                                                             
Contingent liabilities on behalf of Group                  
companies
Other guarantees                           492     344     427
                                                             
Contingent liabilities on behalf of other                  
companies
Guarantees for                             276     121     234
loans
                                                             
Leasing                                    639     510     560
obligations

Currency rate March 31, 2000, 1 EUR = 0.966 USD, 1 EUR = 5.94573 FIM


NOTIONAL AMOUNTS OF DERIVATIVE FINANCIAL INSTRUMENTS, EUR million 1)
(unaudited)
                               31.3.2000     31.3.1999    31.12.1999
                                                          
Foreign exchange forward      10 372         9 688        9 473
contracts 2) 3)
Currency options bought        2 588           834        1 184
Currency options sold          2 397           767          978
Interest rate forward and          -             -          598
futures contracts 2)
Interest rate swaps              250            67          250


The notional amounts of derivatives summarized here do not represent
amounts exchanged by the parties and, thus are not a measure of the
exposure of Nokia caused by its use of derivatives.
Notional amounts outstanding include positions, which have been
closed off.
Notional amount includes contracts used to hedge the net investments
in foreign subsidiaries.


Currency rate March 31, 2000, 1 EUR = 0.966 USD, 1 EUR = 5.94573 FIM



It should be noted that certain statements herein which are not
historical facts, including, without limitation those regarding 1)
the timing of product deliveries; 2) Nokia's ability to develop new
products and technologies; 3) expectations regarding market growth
and developments; 4) Nokia's expectations, regarding the market's
acceptance of new technologies, products and solutions; 5)
expectations for growth and profitability; and 6) statements
preceded by 'believes', 'expects', 'anticipates', 'foresees',
'should', or similar expressions, are forward-looking statements.
Because such statements involve risks and uncertainties, actual
results may differ materially from the results currently expected by
the Company. Factors that could cause such differences include, but
are not limited to 1) general economic conditions, such as the rate
of economic growth in the Company's principal geographic markets or
fluctuations in exchange rates; 2) industry conditions, such as the
strength of product demand, the intensity of competition, pricing
pressures, the acceptability of new product introductions, the
introduction of new products by competitors, changes in technology
or the ability of the Company to source components from third
parties without interruption and at reasonable prices and the
financial condition of the Company's customers; 3) operating
factors, such as continued success of manufacturing activities and
the achievement of efficiencies therein, continued success of
product development or inventory risks due to shifts in market
demand; as well as 4) the risk factors specified in the Company's
Form 20-F for the year ended December 31, 1999.


NOKIA

Helsinki, April 27, 2000

For more information:
Lauri Kivinen, Corporate Communications, tel. + 358 9 1807 495
Ulla James, Investor Relations, tel. + 1 972 894 4880
Antti Raikkonen, Investor Relations, tel. + 358 9 1807 290

www.nokia.com

Nokia will for the time being continue to report its results under
International Accounting Standards notwithstanding its previous
announcement to commence reporting under US GAAP.

Nokia intends to release its second quarter 2000 results on July 27,
2000 and third quarter results on October 26, 2000.