SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a -16 or 15d -16 of

the Securities Exchange Act of 1934

Report on Form 6-K dated April 17, 2008

Nokia Corporation

Nokia House

Keilalahdentie 4

02150 Espoo

Finland

(Name and address of registrant’s principal executive office)

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Form 20-F  x            Form 40-F  o

Enclosures:

1.             Nokia stock exchange release dated April 17, 2008: Nokia Q1 2008 net sales of EUR 12.7 billion, reported EPS of EUR 0.32 (EUR 0.38 excl special items)

Nokia Q1 2008 net sales of EUR 12.7 billion, reported EPS of EUR 0.32 (EUR 0.38 excl special items) Profitability strong for the quarter – operating profit up 39% year on year, excluding special items

*As of April 1, 2007, Nokia results include those of Nokia Siemens Networks on a fully consolidated basis. Nokia Siemens Networks, a company jointly owned by Nokia and Siemens, is comprised of the former Nokia Networks and Siemens’ carrier-related operations for fixed and mobile networks. Accordingly, the results of Nokia Group and Nokia Siemens Networks for the first quarter 2008 are not directly comparable to results for the first quarter 2007. Nokia’s first quarter 2007 included the former Nokia Networks business group only.

As of January 1, 2008, our three mobile device business groups, Mobile Phones, Multimedia and Enterprise Solutions, and the supporting horizontal groups were replaced by an integrated business segment, Devices & Services. Prior period results for Nokia and its reportable segments have been regrouped for comparability purposes according to the new reportable segments (on an unaudited basis). Link to regrouped 2007 financials:  http://www.nokia.com/investors

** Q1 2008 special items:

·      EUR 217 million loss due to transfer of Finnish pension liabilities (impacting Common Group Functions)

·      EUR 81 million facilities impairment and other charges related to closure of the Bochum site in Germany (impacting Devices & Services operating profit)

·      EUR 65 million gain due to transfer of Finnish pension liabilities (impacting Nokia Siemens Networks operating profit)

·      EUR 100 million restructuring charge (impacting Nokia Siemens Networks operating profit)

·      Excluding the net impact of these special items, diluted EPS was EUR 0.38

** Q1 2007 special items:

·      EUR 32 million restructuring charges (impacting Devices & Services operating profit)

·      EUR 25 million charge related to restructuring of a subsidiary company (impacting Devices & Services operating profit)

·      EUR 12 million charge for Nokia Siemens Networks related incremental costs expensed during the first quarter (impacting Networks operating profit)

·      Excluding the impact of these special items, diluted EPS was EUR 0.26.

*** Important note to Nokia Siemens Networks Q1 2008 operating profit and Nokia EPS, both including and excluding special items: In addition to the ‘special items’ listed above, Nokia Siemens Networks reported operating profit also included EUR 120 million of intangible asset amortization and other purchase price accounting related items arising from the formation of Nokia Siemens Networks.

FIRST QUARTER 2008 HIGHLIGHTS

·      Nokia net sales of EUR 12.7 billion, up 28% year on year (up 35% at constant currency).

·      Nokia diluted EPS of EUR 0.38, growing 46% from Q1 2007, excluding special items.

·      Nokia operating margin of 14.7%, up year on year from 13.6% in Q1 2007, down sequentially from 15.9% in Q4 2007, excluding special items.

·      Nokia Devices & Services operating margin of 21.2%, up year on year from 16.0%, down sequentially from 22.8% in Q4 2007, excluding special items.

·      Nokia operating cash flow of EUR 0.8 billion.

·      Nokia device volumes of 115.5 million units, up 27% year on year and down 13% sequentially.

·      Estimated industry device volumes of 295 million units, up 17% year on year and down 12% sequentially.

·      Nokia estimated device market share of 39%, up from 36% in Q1 2007 and down from 40% in Q4 2007.

·      Nokia device ASP of EUR 79, down from EUR 83 in Q4 2007. (Device ASP excludes net sales from Services & Software)

·      Nokia Siemens Networks operating margin was -1.1%, excluding special items, and was a positive 2.4%, excluding special items and purchase price accounting related items arising from the formation of Nokia Siemens Networks.

OLLI-PEKKA KALLASVUO, NOKIA CEO:

“Nokia had strong profitability in the first quarter, with both operating profit and EPS up significantly year on year. The overall device market developed as expected, with the greatest demand in emerging markets, where our position is very strong. The competitiveness of our product portfolio is reflected in our market share and we target market share gains in the second quarter. The portfolio is renewed on a continuous basis. While we will not have major new products shipping in the second quarter, we expect a number of new products to be shipping, and to have a positive impact on our results, in the second half of 2008.”

INDUSTRY AND NOKIA OUTLOOK

·      Nokia expects industry mobile device volumes in the second quarter 2008 to be up slightly sequentially, similar to the market growth in the second quarter 2007, compared to the first quarter 2007.

·      We expect Nokia’s mobile device market share in the second quarter 2008 to increase sequentially.

·      Nokia continues to expect industry mobile device volumes in 2008 to grow approximately 10% from the approximately 1.14 billion units Nokia estimates for 2007.

·      Nokia expects the mobile device market to decline in value in Euro terms in 2008, compared to 2007. The change from our previous estimate of value growth for this market primarily reflects the negative impact of the recently weakened US dollar, the general economic slowdown in the US, and possibly going forward some economic slowdown in Europe.

·      Nokia continues to expect some decline in industry ASPs in 2008, primarily reflecting the increasing impact of the emerging markets and competitive factors in general.

·      Nokia continues to target an increase in its market share in mobile devices in 2008.

·      Nokia expects the mobile and fixed infrastructure and related services market to be flat in Euro terms in 2008, compared to 2007. The change from the previous estimate of “very slight growth” for this market primarily reflects the negative impact of the recently weakened US dollar.

·      Nokia and Nokia Siemens Networks target for Nokia Siemens Networks market share to remain constant in 2008, compared to 2007.

·      Nokia and Nokia Siemens Networks cost synergy target for Nokia Siemens Networks is to achieve substantially all of the EUR 2.0 billion of targeted annual cost synergies by the end of 2008, as previously announced.

Q1 2008 FINANCIAL HIGHLIGHTS

(Comparisons are given to the first quarter 2007 results, unless otherwise indicated.)

As of April 1, 2007, Nokia results include those of Nokia Siemens Networks on a fully consolidated basis. Nokia Siemens Networks, a company jointly owned by Nokia and Siemens, is comprised of the former Nokia Networks and Siemens’ carrier-related operations for fixed and mobile networks. Accordingly, the results of Nokia Group and Nokia Siemens Networks for the first quarter 2008 are not directly comparable to results for the first quarter 2007. Nokia’s first quarter 2007 included the former Nokia Networks business group only.

As of January 1, 2008, our three mobile device business groups, Mobile Phones, Multimedia and Enterprise Solutions, and the supporting horizontal groups were replaced by an integrated business segment, Devices & Services. Prior period results for Nokia and its reportable segments have been regrouped for comparability

purposes according to the new reportable segments (on an unaudited basis). Devices & Services has three business units, Devices, Services & Software and Markets, supported by a Corporate Development Office. Link to regrouped 2007 financials: www.nokia.com/investors.

Nokia Group

Nokia’s first quarter 2008 net sales increased 28% to EUR 12.7 billion, compared with EUR 9.9 billion in the first quarter 2007. At constant currency, group net sales would have increased 35%.

Nokia’s first quarter 2008 operating profit grew 20% to EUR 1.5 billion (including the EUR 333 million net negative impact of special items), compared with EUR 1.3 billion in the first quarter 2007 (including a EUR 69 million negative impact of special items). The special items for the first quarter 2008 included a EUR 217 million loss due to transfer of Finnish pension liabilities (impacting Common Group Functions), a EUR 65 million gain due to transfer of Finnish pension liabilities (impacting Nokia Siemens Networks operating profit) and a EUR 100 million restructuring charge in Nokia Siemens Networks (impacting Nokia Siemens Networks operating profit). The special items for the first quarter 2008 also included a EUR 81 million facilities impairment and other charges related to the closure of the Bochum site in Germany (impacting Devices & Services operating profit), which did not include any of the people related costs of EUR 200 million already disclosed. The remaining charges are expected to be recorded during the subsequent periods in 2008. Nokia’s first quarter 2008 operating margin was 12.1% (12.9%), including the EUR 333 million net negative impact of the special items. Excluding the special items, Nokia’s first quarter 2008 operating margin was 14.7% (13.6%).

Operating cash flow for the first quarter 2008 was EUR 0.8 billion, compared with EUR 1.6 billion for the first quarter 2007, and total combined cash and other liquid assets were EUR 10.4 billion on March 31, 2008, compared with EUR 11.8 billion at December 31, 2007. As of March 31, 2008, our net debt-equity ratio (gearing) was -53%, compared with -61% at December 31, 2007.

Devices & Services

In the first quarter 2008, the total mobile device volume of our Devices & Services group reached 115.5 million units, representing 27% year on year growth and a 13% sequential decrease. The overall industry volume for the same period reached an estimated 295 million units, representing 17% year on year growth and a 12% sequential decrease.

Converged device industry volumes increased to an estimated 33.3 million units, compared with an estimated 23.5 million units in the first quarter 2007. Our own converged device volumes rose to 14.6 million units, compared with 11.8 million units in the first quarter 2007. We shipped close to 10 million Nokia Nseries and almost 2 million Nokia Eseries devices during the first quarter 2008.

The following chart sets out our mobile device volumes for the periods indicated, as well as the year on year and sequential growth rates, by geographic area.

NOKIA MOBILE DEVICE VOLUME BY GEOGRAPHIC AREA

Based on our preliminary market estimate, Nokia’s market share for the first quarter 2008 was 39%, compared with 36% in the first quarter 2007 and 40% in the fourth quarter 2007. Our year on year market share increase was driven primarily by our strong position in the fastest growing markets globally and by strong share gains in Latin America, Asia-Pacific, China and to a lesser extent in Europe. Our market share decreased significantly year on year in North America. Our market share in Middle East & Africa was approximately at the same level year on year. We had strong sequential market share gains in Latin America. Our market share decreased significantly sequentially in Middle East & Africa and North America and to a lesser extent in Europe and Asia-Pacific. Our market share in China was approximately at the same level sequentially.

Our device average selling price (ASP) in the first quarter 2008 was EUR 79, down from EUR 89 in the first quarter 2007 and down from EUR 83 in the fourth quarter 2007. The lower year on year ASP was primarily due to a higher proportion of lower priced products and to a lesser extent the negative impact of the weaker US dollar. The sequential ASP decrease was primarily due to a higher proportion of lower priced products, a mix shift to lower ASP regions and to a lesser extent the negative impact of the weaker US dollar. Starting from the first quarter 2008, our device ASP excludes net sales from our Services & Software business. Prior periods have been reclassified for comparability purposes.

First quarter 2008 Devices & Services net sales grew 13% to EUR 9.3 billion, compared with EUR 8.2 billion in the first quarter 2007. Strong overall volume growth was partially offset by a significant ASP decrease, driven primarily by a higher proportion of lower priced products and to a lesser extent the negative impact of the weaker US dollar on net sales in the first quarter 2008, compared to the first quarter 2007.

Net sales year on year growth was strongest in Latin America, followed by Asia-Pacific, Middle East & Africa, China and Europe. Net sales were down significantly in North America year on year. Of our total Devices & Services net sales, Services & Software net sales were EUR 84 million in the first quarter 2008.

Devices & Services gross profit grew 33% to EUR 3.6 billion, compared with EUR 2.7 billion in the first quarter 2007, with a gross margin of 38.5% (32.8%). Devices & Services operating profit grew 50% to EUR 1.9 billion (including the negative impact of the EUR 81 million special item), compared with EUR 1.3 billion in the first quarter 2007 (including the negative impact of the EUR 57 million special item), with an operating margin of 20.3% (15.3%). First quarter 2008 operating profit included a EUR 81 million facilities impairment and other charges related to the closure of the Bochum site in Germany. First quarter 2007 operating profit included charges of EUR 57 million primarily related to restructuring. The 50% year on year increase in operating profit for the first quarter 2008 was driven primarily by an improved gross margin, compared to the first quarter 2007. The gross margin improvement was primarily due to newer and more profitable devices shipping in volumes. Excluding the special items, Device & Services first quarter 2008 operating margin was 21.2% (16.0%).

Nokia Siemens Networks

First quarter 2008 net sales were EUR 3.4 billion. The first quarter 2008 results of Nokia Siemens Networks are not directly comparable to the first quarter of 2007 as it included the former Nokia Networks business group only. However, net sales were down 26% compared to the fourth quarter of 2007. This primarily reflects a normal seasonally lower first quarter, compared to a strong fourth quarter 2007.

The following chart sets out Nokia Siemens Networks net sales for the periods indicated by geographic area.

NOKIA SIEMENS NETWORKS NET SALES BY GEOGRAPHIC AREA

Nokia Siemens Networks had a first quarter operating loss of EUR 74 million, with an operating margin of -2.2% (including the net negative impact of EUR 35 million in special items). The reported first quarter 2008 operating loss included a EUR 65 million gain due to the transfer of Finnish pension liabilities and a restructuring charge of EUR 100 million. The operating margin for the first quarter 2008, excluding these special items, was -1.1%, down from the comparable fourth quarter 2007 operating margin of 1.4%. The operating profit in the first quarter 2008 also included EUR 120 million of intangible asset amortization and other purchase price accounting related items arising from the formation of Nokia Siemens Networks. First quarter 2008 operating margin was a positive 2.4%, excluding both the special items and the purchase price accounting related items arising from the formation of Nokia Siemens Networks, down from the comparable fourth quarter 2007 operating margin of 4.3%. Operationally, the main factor for the sequential decline in the operating margin in the first quarter 2008 was the lower sequential net sales, driving higher operating expenses as a percent of net sales. Nokia Siemens Networks continued to be on track to deliver the targeted annual EUR 2 billion cost synergy target as previously announced.

Q1 2008 OPERATING HIGHLIGHTS

Nokia

·      On January 28, 2008, Nokia and Trolltech ASA announced that they had entered into an agreement that Nokia will make a public voluntary tender offer to acquire Trolltech, a company headquartered in Oslo, Norway and publicly listed on the Oslo Stock Exchange. Trolltech is a recognized software provider with world-class software development platforms and frameworks. The tender offer has commenced and completion of the acquisition is subject to customary closing conditions, including regulatory approvals.

·      We launched a technology concept called “Morph”, jointly developed by Nokia Research Center and the University of Cambridge, UK. The concept shows how future mobile devices might benefit from nanotechnology research to be flexible and environmentally intuitive, sensing and reacting to the needs of users as well as objects around them.

·      Nokia and UC Berkeley researchers tested technology for gathering traffic information from mobile devices in cars as an alternative to networks of sensors on the highways. One hundred cars equipped with the GPS-enabled Nokia N95 traveled a 10-mile stretch of highway near San Francisco to show how real-time information could be collected from the GPS feed to predict traffic flows and holdups, while preserving the privacy of the devices’ owners.

·      We opened a satellite design studio in Rio de Janeiro, reflecting the increasing impact Latin American style and culture are expected to have on the future design of mobile devices and services.

·      We launched the 2008 Nokia Mobile Filmmaking Awards to support Pangea Day. Through ‘Share on Ovi’ consumers can upload, vote and share content for the Pangea Day broadcast on May 10, 2008.

Devices

·      At the Mobile World Congress 2008, we unveiled a new line up of converged devices and Internet services. The Nokia N96, Nokia N78, Nokia 6210 Navigator and Nokia 6220 classic all feature different location based and multimedia experiences, from pedestrian navigation to geotagging and movie viewing to video and photo sharing.

·      Nokia and Google announced a cooperation to integrate Google’s popular search engine with the Nokia Search application. The integration will begin in select markets with the Nokia N96, Nokia N78, Nokia 6210 Navigator and Nokia 6220 classic.

Services & Software

·      At the Mobile World Congress 2008, we announced the next step towards our Ovi Internet service environment by introducing ‘Nokia Maps 2.0’ and ‘Share on Ovi’, a personal media sharing community that makes it easy to upload, manage and share personal media.

·      We continued to expand the Nokia Music Store’s geographical reach, opening online stores in Germany and Finland.

·      Orange and Nokia signed a memorandum of understanding in order to partner on value-added services such as location based services, maps, mobile advertising and gaming.

·      We launched the N-Gage First Access Program, which allows consumers to try all N-Gage games for free from any one of the tens of millions of compatible Nokia devices in the market. They can then download and buy games with a mobile device or PC.

Nokia Siemens Networks

·      In February, Nokia Siemens Networks acquired Apertio, a leading provider of open real-time subscriber data platforms and applications. The Apertio platform was a key component of a major subscriber management deal signed with T-Mobile Germany in March.

·      Nokia Siemens Networks services capabilities and global reach were influential in winning a number of deals, including a pan-India contract for single Interactive Voice Response for Bharti Airtel; a large turnkey network expansion, including managed services, with Hutchison Telecom Indonesia; and a major consulting and systems integration DVB-H deal with Global Mediacom in Indonesia.

·      At the Mobile World Congress 2008, Nokia Siemens Networks launched its LTE solution for radio and core networks, including the new Flexi Multimode Base Station.

·      Nokia Siemens Networks signed a first customer deal, with Vodacom Tanzania, for the Village Connection solution, which brings mobile connectivity to customers in rural and suburban communities in new growth markets.

·      Nokia Siemens Networks continued to win strategic contracts in important markets, including a frame agreement to cover future network expansion with Megafon in Russia; key reference deals for its all-IP Internet High Speed Packet Access architecture solution, with T2 Slovenia and Stelera Wireless in the US; and an agreement with BSNL in India to expand broadband access to 25 000 villages.

For more information on the operating highlights mentioned above, please refer to related press announcements, which can be accessed at the following link: http://www.nokia.com/press and http://www.nokiasiemensnetworks.com/press.

NOKIA IN THE FIRST QUARTER 2008

(International Financial Reporting Standards (IFRS) comparisons given to the first quarter 2007 results, unless otherwise indicated.)

As of April 1, 2007, Nokia results include those of Nokia Siemens Networks on a fully consolidated basis. Nokia Siemens Networks, a company jointly owned by Nokia and Siemens, is comprised of the former Nokia Networks and Siemens’ carrier-related operations for fixed and mobile networks. Accordingly, the results of Nokia Group and Nokia Siemens Networks for the first quarter 2008 are not directly comparable to results for the first quarter 2007. Nokia’s first quarter 2007 included the former Nokia Networks business group only.

As of January 1, 2008, our three mobile device business groups, Mobile Phones, Multimedia and Enterprise Solutions, and the supporting horizontal groups were replaced by an integrated business segment, Devices & Services. Prior period results for Nokia and its reportable segments have been regrouped for comparability purposes according to the new reportable segments (on an unaudited basis). Devices & Services has three business units, Devices, Services & Software and Markets, supported by a Corporate Development Office. Link to regrouped 2007 financials: www.nokia.com/investors.

Nokia’s net sales increased 28% to EUR 12.7 billion (EUR 9.9 billion). Net sales of Devices & Services increased 13% to EUR 9.3 billion (EUR 8.2 billion). Net sales of Nokia Siemens Networks were EUR 3.4 billion.

Operating profit increased 20% to EUR 1.5 billion (EUR 1.3 billion), representing an operating margin of 12.1% (12.9%). Operating profit in Devices & Services increased 50% to EUR 1.9 billion (EUR 1.3 billion), representing an operating margin of 20.3% (15.3%). The operating loss in Nokia Siemens Networks was EUR 74 million, representing an operating margin of -2.2%. Group Common Functions expenses totaled EUR 278 million (EUR 58 million).

Financial income was EUR 68 million (EUR 48 million). Profit before tax and minority interests was EUR 1 607 million (EUR 1 325 million). Net profit totaled EUR 1 222 million (EUR 979 million). Earnings per share increased to EUR 0.32 (basic) and to EUR 0.32 (diluted), compared to EUR 0.25 (basic) and EUR 0.25 (diluted) in the first quarter 2007. Earnings per share, excluding special items, increased to EUR 0.38 (diluted), compared to EUR 0.26 (diluted) in the first quarter 2007.

PERSONNEL

The average number of employees during January-March 2008 was 114 735. At March 31, 2008, we employed a total of 116 378 people (112 262 people at December 31, 2007).

SHARES

The total number of Nokia shares on March 31, 2008 was 3 797 402 044. On March 31, 2008, Nokia and its subsidiary companies owned 10 661 635 Nokia shares, representing approximately 0.3% of the total number of Nokia shares and the total voting rights.

Q1 2008 BY REPORTABLE SEGMENT, EUR million

(unaudited)

Q1 2007 BY REPORTABLE SEGMENT, EUR million

(unaudited)

NOKIA NET SALES BY GEOGRAPHIC AREA, EUR million

(unaudited)

NOKIA PERSONNEL BY GEOGRAPHIC AREA

CONSOLIDATED PROFIT AND LOSS ACCOUNT, IFRS, EUR million

(unaudited)

CONSOLIDATED BALANCE SHEET, IFRS, EUR million (unaudited)

1) Shares owned by Group companies are excluded.

CONSOLIDATED CASH FLOW STATEMENT, IFRS, EUR million

(unaudited)