Nokia

Coherent solutions for all next gen speeds and applications.

New for this quarter – WDM Pluggable Market Share

All three end customer markets grew worldwide, with worldwide cloud spending growing 64%

Analysis and opinion on 4Q25 company results.

In this update to our 1Q25 report, we cover the trends favoring pluggable optics as well as the companies positioned to benefit.

Datacom revenue passed $5B with 800GbE module growth. Telecom revenue reached a 4-year peak with pluggable coherent modules and components.

New 800ZR/ZR+ pluggables deliver materially higher performance at lower space/power per bit, expanding usage from metro to regional and selected long-haul applications.

All three end customer markets grew worldwide, with worldwide cloud spending growing 64%

Analysis and opinion on 3Q25 company results.

All three end customer markets grew worldwide, with worldwide cloud spending growing 64%

Discussing the challenges of AI

Pluggable coherent is transforming optical transport, replacing embedded optics to and extending the benefits of pluggables to traditional optical transport hardware.

The Four Horseman of AI scaling: CPO, OCS, 1.6T, and 800ZR/Coherent Lite

Datacom revenues and module shipments roared back from last quarter’s pause and Telecom revenue has recovered. 400ZRx pluggable shipments have slowed, but embedded high speed coherent made up the difference in deployed bandwidth.

The ex-Infinera presence was strong at Nokia’s Wavelengths conference, as the company repositions to take advantage of the AI wave.

The market recovery accelerated in 2Q with Cloud & Colo spending rocketing 50%.

Optical and routing sales are lifted by AI and a weakening dollar.

The worldwide optical transport market accelerated in 2Q as cloud and colo spending rocketed 50% worldwide.

Datacom revenues and shipments slowed, 400ZRx shipments kept Telecom revenue growing for a fourth consecutive quarter.

The Optical and Routing markets show signs of recovery, and tariffs aren’t yet affecting business.