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Nokia Corporation (natively Nokia Oyj, referred to as Nokia; Finnish: [ˈnokiɑ], UK: /ˈnɒkiə/, US: /ˈnoʊkiə/) is a Finnish multinational telecommunications, information technology, and consumer electronics company, founded in 1865. Nokia's headquarters are in Espoo, Finland, in the greater Helsinki metropolitan area.[4] In 2020, Nokia employed approximately 92,000 people[6] across over 100 countries, did business in more than 130 countries, and reported annual revenues of around €23 billion.[5] Nokia is a public limited company listed on the Helsinki Stock Exchange and New York Stock Exchange.[7] It is the world's 415th-largest company measured by 2016 revenues according to the Fortune Global 500, having peaked at 85th place in 2009.[8] It is a component of the Euro Stoxx 50 stock market index.[9][10]
The company has operated in various industries over the past 150 years. It was founded as a pulp mill and had long been associated with rubber and cables, but since the 1990s has focused on large-scale telecommunications infrastructure, technology development, and licensing.[11] Nokia is a major contributor to the mobile telephony industry, having assisted in the development of the GSM, 3G, and LTE standards (and currently in 5G), and was once the largest worldwide vendor of mobile phones and smartphones. After a partnership with Microsoft and Nokia's subsequent market struggles,[12][13][14] Microsoft bought its mobile phone business,[15][16] creating Microsoft Mobile as its successor in 2014.[17] After the sale, Nokia began to focus more on its telecommunications infrastructure business and on Internet of things technologies, marked by the divestiture of its Here mapping division and the acquisition of Alcatel-Lucent, including its Bell Labs research organization.[18] The company then also experimented with virtual reality and digital health, the latter through the purchase of Withings.[19][20][21][22] The Nokia brand returned to the mobile and smartphone market in 2016 through a licensing arrangement with HMD Global.[23] Nokia continues to be a major patent licensor for most large mobile phone vendors.[24] As of 2018, Nokia is the world's third-largest network equipment manufacturer.[25]
The company was viewed with national pride by Finns, as its mobile phone business made it by far the largest worldwide company and brand from Finland.[26] At its peak in 2000, during the telecoms bubble, Nokia accounted for 4% of the country's GDP, 21% of total exports, and 70% of the Helsinki Stock Exchange market capital.[27][28On March 2, 2020, Nokia announced Pekka Lundmark as its new CEO.[177] Later that month, Nokia completed the acquisition of Elenion Technologies, a U.S.-based company focusing on silicon photonics technology to improve economics of advanced optical connectivity products.[178]
On May 27, 2020, Sari Baldauf succeeded Risto Siilasmaa as chairwoman of the board of directors, and Kari Stadigh was appointed vice chair. In June, Nokia won a 5G contract worth approximately $450 million[179] from Taiwan Mobile to build out the telecom operator's next-generation network as the sole supplier.[180] In October, Nokia announced a contract with NASA to build a 4G mobile network for astronaut usage on the moon. The $14.1 million contract is through subsidiary Bell Labs, and the program is expected to launch in 2022.[181][182][183]
During 2020, Flipkart collaborated with Nokia to market Nokia-branded consumer products in India. These included televisions, a laptop and a range of air conditioners.[184]
In 2021, during the GameStop short squeeze, there was increased volatility in the Nokia stock price.[185]Nokia is a julkinen osakeyhtiö (public joint-stock company) listed on the Nasdaq Nordic/Helsinki and New York stock exchanges.[7] Nokia has played a very large role in the economy of Finland,[186][187] and it is an important employer in the country, working with multiple local partners and subcontractors.[188] Nokia contributed 1.6% to Finland's GDP and accounted for about 16% of the country's exports in 2006.[189]
Nokia comprises two business groups along with further subsidiaries and affiliated firms.
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