Trading Statement

Nokia Corporation
11 December 2001


Nokia on track to reach fourth quarter sales guidance
- Earnings estimate to be met or even exceeded

Nokia today provided a scheduled mid-quarter update to the company's
business outlook for the fourth quarter, 2001.

Based on developments during October and November, the company expects
total sequential net sales growth for the Nokia group to reach
approximately 20%. Nokia Networks sales are expected to be up
sequentially, but down 20% year on year, while Nokia Mobile Phones
sales for the fourth quarter are expected to rise 25% compared with
the third quarter. All these estimates are in line with the company's
earlier guidance.

Pro forma EPS (diluted) for the fourth quarter is anticipated to be at
the upper end or even above the earlier indicated range of EUR 0.18 -
EUR 0.20.

The mobile phone market has developed according to company
expectations, with fourth quarter volumes expected to reach 105-110
million units. Sequential growth is expected to be highest in the
Americas and Europe.

With the competitive pricing environment for mobile phones more
stable, channel inventories normalized and record unit sales for the
company in the first two months of the quarter, Nokia continues to
expect significant market share gains in its mobile handset business
this quarter. A strong start for the Nokia 8310 and brisk sales in the
US, in both the TDMA and CDMA markets, have made an important
contribution to fourth quarter sales so far.

Nokia is the world leader in mobile communications. Backed by its
experience, innovation, user-friendliness and secure solutions, the
company has become the leading supplier of mobile phones and a leading
supplier of mobile, fixed and IP networks. By adding mobility to the
Internet Nokia creates new opportunities for companies and further
enriches the daily lives of people. Nokia is a broadly held company
with listings on six major exchanges.

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) the Company's ability to develop and
implement new products and technologies; 3) expectations regarding
market growth and developments; 4) expectations for growth and
profitability; and 5) statements preceded by 'believes', 'expects',
'anticipates', 'foresees', 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) industry conditions, such as the
strength of product demand, the intensity of competition, pricing
pressures, the acceptability of new product introductions such as
Internet-ready phones, the introduction of new products by
competitors, the impact of changes in technology, including the
Company's success in the emerging 3G market, the introduction and
marketing of new products and services by operators, the ability of
the Company to source components from third parties without
interruption and at reasonable prices, demand for vendor financing and
the Company's ability and willingness to provide such financing and to
mitigate the related exposure, and the success and financial condition
of the Company's strategic partners and customers; 2) operating
factors, such as continued success of manufacturing activities and the
achievement of manufacturing efficiencies therein, continued success
of product development and inventory risks due to shifts in market
demand; 3) general economic conditions in the Company's principal
geographic markets and in the wireless telecommunications industry as
a whole, and fluctuations in exchange rates, including in particular
the impact of the exchange rate between the Euro and the US dollar; as
well as 4) the risk factors specified on pages 10 to 16 of the
Company's Form 20-F for the year ended December 31, 2000.

Further  information:

Lauri Kivinen, Corporate Communications, tel. [phone]
Ulla James, Investor Relations, tel. [phone]
Antti Raikkonen, Investor Relations, tel. [phone]

www.nokia.com