Introduction
Nokia Corporation is a famous name in telecommunications and consumer electronics. It carries a rich history dating back to 1865. It was originally started as a pulp mill, then it evolved into a global tech company. Its headquarters are located in Espoo, Finland.
History & Milestones
The company started in 1865 near Tampere. Its early focus rested on pulp, rubber, and cables. Nokia entered electronics and built momentum in telecommunications by the 1980s. The 1990s brought mobile dominance, and Nokia held the top spot in handset sales by 1998. Its GSM innovation changed global communication. Its mobile section losses led to a shift toward telecom infrastructure after 2010. Nokia acquired Alcatel-Lucent and Bell Labs to reshape the business. In 2023, a new logo built its excellent consumer image.
Product & Services
| Category | Description |
|---|---|
| Network Infrastructure | Includes 5G, IP, optical and fixed network equipment |
| Software | Cloud-native network software, analytics, automation tools |
| Patents & Licensing | Technology licensing in mobile and multimedia patents |
| Mobile Devices | Smartphones and tablets under HMD Global license |
| VR & Audio | OZO audio and immersive media solutions |
| Submarine Systems | Undersea cable systems through Alcatel Submarine Networks |
| Enterprise Solutions | SD-WAN, private wireless, industrial digitalization tools |
Business Model & Strategy
Nokia operates under a hybrid model. Its equipment and software sales generate infrastructure income. Licensing generates recurring revenue from IP. addresses like NGP Capital support innovation. The focus remains on updated technology, automation, and cloud-native networks. In recent years, cost reductions and asset realignment improved margins. Nokia acquired Infinera in 2024 to enhance its optical capabilities.
Market Presence & Financials
Nokia’s revenue declined to €19.22 billion in 2024. Its operating income improved and reached to €1.999 billion and net income stood at €1.284 billion. The total assets dropped to €39.15 billion and equity rose to €20.66 billion. Its employee count fell to 78,434 as a sign of restructuring. Nokia operates across 130 countries. Its presence in 5G contracts with US and European telecoms remains solid, despite competition.
Leadership & Culture
Justin Hotard is serving as a CEO Since 2025. Sari Baldauf leads the board. The change in leadership followed Pekka Lundmark’s strategic groundwork. The culture inside Nokia values innovation and collective accountability. English is the official business language. Its past mistakes prompted open internal reforms and stronger governance frameworks. Decisions now follow lean, execution-focused models.
Future Outlook
Nokia is moving forward with carbon neutrality till 2040. The focus remains on software-based networks, AI-driven automation, and private 5G for businesses. Its expansion through strategic M&A, like Fenix Group in defense and Infinera in optics, points to deeper vertical integration.