On October 2, Nokia Oyj rose 3.28% in regular trading, trading at $10.71/share, with turnover of $244 million. The gain was driven by a combination of the company's satellite communication initiative and a recent cloud platform deployment deal in the Middle East.

On October 1, Nokia Oyj announced that its first batch of communication satellites is expected to launch in 2028, marking a substantive step into the non-terrestrial network domain. In partnership with satellite startup ICEYE, the companies plan to build a secure European communications system for defense and security, launching up to 50 low-earth-orbit satellites per year starting in 2028, targeting Europe's growing demand for sovereign services.

Additionally, on September 29, Saudi digital services leader Zain KSA fully deployed Nokia Oyj's Deepfield cloud intelligence platform across its network covering over 100 Saudi cities, aiming to enhance network performance, operational efficiency, and support the Saudi 2030 Vision digital transformation strategy.

Analyst sentiment has also turned more constructive, with Bernstein recently raising its target price to EUR 9.53 per share, and B. Riley initiating coverage at Buy with a $15 target.

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