Trading Statement

Nokia Corporation
12 March 2002



Nokia on track to meet or exceed 1Q profit targets on slightly lower sales

Nokia today provided a scheduled mid-quarter update to the company's business
outlook for the first quarter 2002.

Based on developments during January and February, Nokia's pro forma EPS
(diluted) is estimated to be at the upper end or even slightly above the earlier
indicated range of EUR 0.15 - EUR 0.17 for the first quarter. Net sales for the
first quarter are expected to be slightly lower than anticipated, but higher
than expected profitability is being driven by Nokia's core strengths of strong
brand, excellence in execution and winning portfolio.

The company sees first-quarter net sales slightly below earlier guidance of a
6-10% year-on-year decline. Sales of Nokia Mobile Phones in the first quarter
are expected to be within the previously stated range (down 3-7% year-on-year),
while Nokia Networks sales are expected to decrease by approximately 25%,
compared with earlier guidance of a 16-20% year-on-year decrease.


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 A) the timing of product
deliveries; B) our ability to develop and implement new products and
technologies; C) expectations regarding market growth and developments; D)
expectations for growth and profitability; and E) statements preceded by
'believe,' 'expect,' 'anticipate,' 'foresee' or similar expressions, are
foreward-looking statements. Because these statements involve risks and
uncertainties, actual results may differ materially from the results that we
currently expect. Factors that could cause these differences include, but are
not limited to: 1) developments in the mobile communications market including
the continued development of the replacement market and the Company's success in
the 3G market; 2) demand for products and services; 3) market acceptance of new
products and service introductions; 4) the availability of new products and
services by operators; 5) weakened economic conditions in many of the Company's
principal markets; 6) pricing pressures; 7) intensity of competition; 8) the
impact of changes in technology; 9) consolidation or other structural changes in
the mobile communications market; 10) the success and financial condition of the
Company's partners, suppliers and customers; 11) the management of the Company's
customer financing exposure; 12) the continued success of product development by
the Company; 13) the continued success of cost-efficient, effective and flexible
manufacturing by the Company; 14) the ability of the Company to source component
production, manufacturing and R&D without interruption and at acceptable prices;
15) inventory management risks resulting from shifts in market demand; 16)
fluctuations in exchange rates, including, in particular, the fluctuations in
the euro exchange rate between the US dollar and the Japanese yen; 17) impact of
changes in government policies, laws or regulations; 18) the risk factors
specified on pages 10 to 16 of the Company's Form 20-F for the year ended
December 31, 2000.



For more information:

Lauri Kivinen, Corporate Communications, tel. [phone]

Ulla James, Investor Relations, tel. [phone]

Antti Raikkonen, Investor Relations, tel. [phone]

www.nokia.com

- Nokia results announcements for 1Q, 2Q and 3Q, 2002 are planned for April 18,
  July 18 and October 17, respectively.

- The Annual General Meeting will be held on March 21, 2002.



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