Nokia Corporation (NYSE:NOK) was founded in 1865 and is headquartered in Espoo, Finland. It has 103,083 full-time employees. It is a multinational company engaged in the production of mobile communication equipment and the provision of services.
Nokia Corporation (NOK):
The word Nokia is derived from the archaic Finnish word “nois” (ancient Finnish linguistic mode is nokia) or nokinäätä, a species that inhabits the Nokia River (Kokemaki) River Basin) on both sides of the river are small sables resembling ancient martes. As a place name, Nokia’s original meaning only refers to the territory of Nokia. Later, Nokia was also used to refer to people living on the territory of Nokia in Pirkkala. However, later research seems to indicate that sables have never been inhabited anywhere in Finland, and the name “nois” actually refers to the Eurasian beaver.
Founded in 1865, Nokia was mainly engaged in logging and papermaking at the time. Later it also engaged in the production of rubber shoes, tires, cables, mobile phones, etc. At present, it mainly focuses on communication basic business and digital map business. Nokia used to be the leader in the mobile phone market. It had a market value of nearly 250 billion US dollars in the glory days of 2000, second only to McDonald’s and Coca-Cola in market value . Since 1996, Nokia has occupied the largest market share for 14 consecutive years.
Nokia currently focuses on basic communications and advanced technology research and development and authorization. The consumer mobile communications equipment division was sold to Microsoft , and the Nokia brand was then re-authorized to Foxconn and HMD Global, a subsidiary of Hon Hai Group, for manufacturing.
In the face of Apple’s 2007 iPhone and Android-powered smartphones, coupled with Nokia’s slow pace of reform, the number one mobile phone sales in the world was surpassed by both Apple and Samsung in the second quarter of 2011 .
Nokia Corporation (NOK) history:
- Nokia used to be the leader in the mobile phone market, with a market value of nearly US$250 billion in the glory days of 2000, second only to McDonald’s and Coca-Cola. In 1997, Nokia defeated Motorola as the world’s leading mobile phone. Since that year, it has won the sales champion for 14 consecutive years. This is also the most glorious day of the Nokia mobile phone empire. However, in the face of the Android camp represented by the iPhone launched by Apple in 2007 and Samsung, coupled with Nokia’s slow pace of reform, the number one mobile phone sales in the world was surpassed by both Apple and Samsung in the second quarter of 2011.
- In February 2011, Nokia abandoned the Symbian system that had been operating for many years, and switched to Microsoft ‘s Windows Phone system.
- On September 3, 2013, Microsoft announced that it would acquire Nokia’s mobile phone manufacturing, equipment and services business, Lumia, Asha brands, and a 10-year non-exclusive patent license for US$7.2 billion. Nokia still maintains the network and service business Nokia Communications, the Here map team, the Nokia brand, and patents (the Nokia high-end technology responsible for technology development and licensing).
- On April 25, 2014, Nokia announced the completion of the sale of equipment and services to Microsoft.
- On October 22, 2014, Microsoft officially announced the change of the Nokia mobile phone brand to “Microsoft Lumia”, and the Nokia mobile phone brand officially entered history.
- In November 2014, Nokia CEO Rajeev Suri (English: Rajeev Suri) stated that Nokia will no longer make mobile phones.
- On November 18, 2014, Nokia released the Nokia N1 tablet using Android. This is Nokia’s first consumer-grade smart device after selling its mobile phone business for the consumer market.
- On July 21, 2015, the three major German automakers: BMW , Audi , and Daimler jointly acquired Nokia Here Map for 2.8 billion euros (3.1 billion US dollars). Nokia will start from this transaction. With funding of slightly more than 2.5 billion euros, these buyers will also assume close to 300 million euros of HERE debt. The three German automakers said that they expect to complete the transaction in the first quarter of 2016 and will each hold the same shares in the HERE business. The HERE division will remain independent and will not interfere with its operations. On December 4, 2015 local time, Nokia has withdrawn its investment in HERE, and HERE has become a map brand operated independently by three automakers. Prior to this, Baidu and Uber both participated in the competition of Here map.
- On August 28, 2015, Nokia and China Huaxin Post and Telecommunications Economic Development Center signed a “Memorandum of Understanding”. The two parties intend to establish a new joint venture company to integrate Nokia China’s telecommunications equipment business with Shanghai Bell Co., Ltd. into the new joint venture company. Nokia will hold a 50%+1 stake in the new joint venture.
- On January 4, 2016, Nokia announced the successful implementation of a 15.6 billion euro public exchange transaction, obtaining a 79% controlling stake in French rival Alcatel-Lucent . The two companies will merge on January 14, 2016. The acquisition of Aran will strengthen Nokia’s position in the telecommunications equipment market and enable it to better compete with Ericsson and Huawei .
- On April 27, 2016, Nokia acquired French health and wearable device manufacturer Withings for 170 million euros (approximately US$191 million), and renamed it Nokia Health. In June 2018, it sold the Nokia Health division.
- On May 18, 2016, Microsoft confirmed the sale of Nokia’s feature phone business to Fu Zhikang for a transaction price of 350 million US dollars. Fujikang will take over the licensing of Nokia’s feature phone brand, including Nokia feature phone software, related customer services and supply chain agreement contracts; Nokia announced that it will grant the Finnish company HMD Global Oy the exclusive global patent rights, allowing the latter to produce within 10 years Nokia brand Android phones and tablets.