“The resolution of this matter could result in potential criminal or civil penalties, including the possibility of monetary fines, which could have a material adverse effect on our business, brand, reputation or financial position,” the company added.
The company told Reuters that the investigation is in an early stage and the regulatory authorities have been contacted to ensure transparency.
Nokia shares have gained 12.7% in the trailing 52 weeks and 8.7% since the beginning of this year.
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Iran operations
The Finnish company stated that the opposing policies taken by the EU and the US with regards to trade relations with Iran have placed the company in a difficult position.
In order to avoid the strong sanctions put in place by the US on companies operating in Iran, Nokia said it does not intend to add to its business in Iran, but would complete the existing contractual obligations.