Nokia Corporation is a Finnish multinational company specializing in telecommunications, information technology, and consumer electronics.
Originally founded as a pulp mill in 1865, Nokia’s headquarters are located in Espoo, Finland, within the Helsinki metropolitan area, though its roots trace back to the Tampere region of Pirkanmaa.
As of 2020, Nokia employed around 92,000 people across more than 100 countries, conducted business in over 130 nations, and reported annual revenues of approximately €23 billion.
The company is publicly traded on the Nasdaq Helsinki and the New York Stock Exchange and ranked as the 415th largest company globally based on 2016 revenues, according to the Fortune Global 500, having reached as high as 85th place in 2009. It is also a component of the Euro Stoxx 50 stock market index.
Over its 150-year history, Nokia has operated in various industries.
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Initially established as a pulp mill, the company became associated with rubber and cables before shifting its focus in the 1990s to telecommunications infrastructure, technology development, and licensing.
Nokia played a significant role in the mobile telephony industry, contributing to the development of GSM, 3G, and LTE standards.
For a decade starting in 1998, it was the largest vendor of mobile phones and smartphones globally.
However, in the late 2000s, Nokia experienced a decline in market share due to a series of poor management decisions.
Following a partnership with Microsoft, which ultimately led to its market struggles, Nokia’s mobile phone business was acquired by Microsoft in 2014 and rebranded as Microsoft Mobile.
Post-sale, Nokia redirected its focus toward telecommunications infrastructure and Internet of Things technologies, marked by the sale of its Here mapping division and the acquisition of Alcatel-Lucent, including its Bell Labs research organization.
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The company also ventured into virtual reality and digital health, notably through its purchase of Withings.
In 2016, the Nokia brand re-entered the mobile and smartphone market via a licensing agreement with HMD.
Today, Nokia remains a leading patent licensor for major mobile phone manufacturers and, as of 2018, ranks as the world’s third-largest network equipment manufacturer.
Nokia has been a source of national pride for Finland, especially during its peak when its mobile phone business made it the largest company and brand in the country.
At its height in 2000, Nokia represented 4% of Finland’s GDP, 21% of total exports, and 70% of the market capitalization of the Nasdaq Helsinki.
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