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Nokia

Nokia

Tagline

Connecting People

Net Worth

$21,769,000,000

Started in (City)

Tampere

Started in (Country)

Finland

Incorporation Date

12th December, 1865

Bankruptcy Date

-

Founders

  • Fredrik Idestam
  • Leo Mechelin
  • Eduard Polón

About

Nokia is public telecommunication, information technology, and consumer electronics company founded in 1865. This company was founded by Fredrick Idestan and Leo Michelin. The current CEO is Rajeev Suri and the designated CEO is Pekka Lundmark. Nokia was awarded rank 415th largest company in the year 2016 as per the fortune global 500. This company was founded on 12th May 1865 and the headquarter is in Espoo, Finland and the total numbers of employees are 98,322. The population is way higher than in Vatican City. So, it’s quite visible, how big and renowned this company is.

Beginning

The beginning of this company is as usual as any other company would start. Earlier when this company was started it was never a telecommunication company. It was founded as a pulp mill and had associated with rubber and cables, but since the 1990s has focused on large-scale telecommunication infrastructure, technology development, and licensing. Even though the company was started as a pulp mill, at present it is one of the biggest telecommunication industries. Like a famous saying people will lose if they start something new but the truth is the ones who even stepped out from their homes are lost. So this saying is just made for Nokia as a brand is.

Road to Success

This company has worked its blood and sweat to make this company this giant. The company operated in various industries over the past 150 years. Nokia’s first fully portable mobile phone after the Mobira Senator was the verbena city man 900 in 1987. Nokia assisted in the development of the GSM mobile standard in the 1980s, and developed the first GSM call was made by Finnish Prime Minister Harri Holkeri. Nokia was the first to launch digital satellite receivers in the UK announced in March 1997. As this company grew up, it begins to glorious in the entire globe. And that’s who Nokia became the first Telecommunication Company in Finland. In October 1998, Nokia overtook Motorola to become the best-selling mobile phone brand and in December manufactured its 100 millionth mobile phone. A major reason why Nokia grew against its main competitor Motorola and Ericson was that it managed to cater to the consumer youth market and fashion-oriented consumers. There is no doubt that when Nokia was growing up as a company there was no competition rather as it was growing and make sure that they left any stone unturned and that’s what makes this company successful. Like it said that you can achieve any milestone it just that you need to start up things.

Challenges

Like in every company there are few twists and turns so as Nokia has and it would be nothing wrong if I would say that Nokia have the biggest turn when they planned to make this company telecommunication company and then the current CEO Kari Kairamo changed the whole company’s business, in the year 1977 and that year-end up to became the turning point of NOKIA. Nokia also acquired Mobira, a mobile telephony company, which has the foundation future of its mobile phone business. In 1981 Mobira launched the Nordic mobile telephone (NMT) service, the world’s first international cellular network and the first to allow international roaming. Even though Nokia has much many competition but it does fail to makes good business collaboration so he did. The collaboration with the future of the mobile industry Mobira proves this story.

Failures

In this era of the 21st century, everyone wants a better and convenient life to live and this is the so-called smart world it is. So to make everyone’s life easy and convenient Nokia also launches their android phone and so as their failure came into the picture. The android of Nokia was not as successful as their other products were and that’s was they got failed in this project. In 2010 nokia launches the ’iPhone killer’ but failed to match the competition. The quality of Nokia's high-end phones continues to decline. In just six years, the market value of Nokia declined by about 90%. Nokia's decline accelerates by 2011 and is acquired by Microsoft in 2013. The Nokia brand has since returned to the mobile and smartphone market through a licensing arrangement with HMD global. Nokia continues to be a major patent licensor for most large mobile phone vendors. As of 2018, Nokia is the world’s largest network equipment manufacturer. The net worth of the company is 8 million euros, a total asset is 43.857 billion euros, total equity is 15.37 billion euros and total numbers of employees are 98,322. Nokia has been awarded as the largest company of the year in Finland.

Achievements

  • Nokia named one of the world’s most ethical companies by the Ethisphere Institute in 2021
  • Nokia honored in Bloomberg’s 2020 Gender-Equality Index (GEI)
  • GSMA MWC-19 Global Mobile Award for 5G Industry Partnership
  • Nokia named one of the world’s most ethical companies by the Ethisphere Institute in 2019

Subsidies

  • Nokia Network
  • Nokia Bell
  • Novarra Inc.
  • Excel Mobile Phones

CEOs

  • Pekka Lundmark
  • Rajeev Suri