Nokia

Revenue

€23.147 billion (2017)

Employees

102,761 (2017)

Founded

1865



Overview:
Nokia Corporation is a Finnish multinational telecommunications, information technology, and consumer electronics company, founded in 1865. Nokia's headquarters are in Espoo, in the greater Helsinki metropolitan area. In 2017, Nokia employed approximately 102,000 people across over 100 countries, did business in more than 130 countries, and reported annual revenues of around €23 billion. Nokia is a public limited company listed on the Helsinki Stock Exchange and New York Stock Exchange. It is the world's 415th-largest company measured by 2016 revenues according to the Fortune Global 500, and is a component of the Euro Stoxx 50 stock market index.

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Industries:
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Information Technology
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Hardware
Business Model Patterns:

Digitization

How they do it: Nokia digitized multiple products and services in their role as one of the most popular mobile phone and smartphone company in the early 2000s. E.g. they pioneered in bringing digital photography and tv to mobile phones. Further examples include the mobile music platform Nokia Music Store which allowed phone users to download music on their devices.

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No Frills

How they do it: In recent years Nokia introduced multiple ”no frills” phones opposing the general smartphones. These phones allow their users to text and call but don’t provide access to the internet. In addition they have a great battery live.

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Reverse Innovation

How they do it: Nokia is observing how mobile phones are used by customers in Africa and India and then incorporate those learnings for new products they introduce in the developed markets. One example is a dust and moisture proof, highly durable phone which was a great success in emerging markets and then inspired a similar version for developed markets.

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