• Nokia average gross margin for 2023 was 39.66%, a 1.9% increase from 2022.
• Nokia average gross margin for 2022 was 40.43%, a 4.28% decline from 2021.
• Nokia average gross margin for 2021 was 38.77%, a 3.44% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.