(Bloomberg) -- Nokia Oyj said it cut its profit guidance for the year, citing a weaker US dollar and tariffs. The Espoo-Finland based company now expects operating profit for the year to be €1.6 billion ($1.9 billion) to €2.1 billion, down from its January guidance of €1.9 billion to €2.4 billion, it said in a statement on Tuesday.

Finland's Nokia lowered its guidance for 2025 comparable operating profit on Tuesday by up to 310 million euros ($364.10 million), citing the impact of a weaker U.S. dollar and tariffs. "Considering currency and tariff headwinds,

The Finnish maker of telecommunication equipment reduced its operating profit expectations for the year as a whole, citing headwinds from currency fluctuations and tariffs.