Nokia applied to delist from the Euronext in Paris, but its shares will remain traded on Nasdaq Helsinki and its American depositary receipts listed on the New York Stock Exchange.

In a statement, the company explained the decision by its board was taken following a review of the trading volumes, costs and administrative requirements related to the listing.

The delisting requires the approval of the board of Euronext Paris and is expected to take effect within the next three months.

Additional details regarding the delisting process will be announced separately, the statement added.

Last week, the Finland-based vendor lined up a $1 billion investment from Nvidia, which will take a 2.9 per cent equity stake in Nokia.