On September 1, Nokia Oyj fell 3.06% in regular trading, trading at $9.825/share, with turnover of $65.91 million. The decline came amid broad weakness across the communication equipment sector, which overshadowed the company's announcement of a new research and development center in Saudi Arabia.

Nokia announced the opening of its first R&D center in Riyadh, focused on developing AI-powered network automation and orchestration software. The facility will work on self-organizing networks, autonomous driving networks, and energy efficiency applications, while also exploring AI-native 6G technologies for global customers. However, the positive development failed to offset sector-wide selling pressure, with peers Lumentum down 5.14%, Applied Optoelectronics down 5.25%, Ciena down 4.92%, Arista Networks down 2.38%, and Cisco down 0.77%.

Additionally, lingering concerns over Nokia's previously reported plan to close its Hangzhou R&D center and cut approximately 1,600 jobs may have compounded negative sentiment, following a 3.59% decline in the prior session.

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