We take a look at the history of Nokia owners since their hundred years of business and who owns Nokia now?
Nokia a 155-year-old company has nurtured the industry with cable, paper products, rubber boots, tires, television, and mobile phones. Nokia Corporation is a Finland-based company with its headquarters in Espoo, Finland.
Nokia’s primary focus on telecommunication began in 1990. The company made its first GSM call in 1991 with Nokia equipment, by the year 1998 Nokia became the top-selling mobile brand in the world. Who doesn’t remember the very famous Nokia 1100? A device that was once a favorite of all and it’s also the highest-selling handset of all time. But with the time and advent of the Android touchscreen mobile, the company lost its glory. So the basic question, of who owns Nokia primarily remains on people’s minds as they have seen many ups and downs in the last two decades of Nokia’s journey in the 21st century.
Who owns Nokia?
Nokia was owned by Microsoft. In the year 2013, Microsoft paid over $7 billion for Nokia’s business. The acquisition was held for bringing the smartphone market to new heights but destiny ill-treated the company and had a huge loss of $7.6 billion and thousands of people were unemployed. Later in 2016, Microsoft sold Nokia to subsidiaries of HMD Global and Foxconn Technology Group.
In 2017, Nokia made an impressive comeback with the newly formed HMD Global which purchased the exclusive right to market the Nokia brand via license 2017 and primarily focused on entering the mid-range mobile phone market. HMD made a brand title “The Home of Nokia Phones” to promote their phones. On 16 August 2017, the new owner introduced the first ever Nokia Android phone called the Nokia 8. HMD Global shipped 4.8 million Nokia phones in the second quarter of 2019, which is over a 20% increase from the previous year.
To speed up the deployment Nokia has partnered with America’s largest and most reliable 5G network T-Mobile. Nokia has worked grind to bring the best 5G network in the market.
The pandemic has mostly affected the smartphone market and again Nokia’s shipments have declined to 11.9%. HMD has switched focus on online sales and profitability has returned in June. Further, as a clear strategy, the company announced that they will not fight in the flagship smartphones which are mostly dominated by Apple and Samsung, and focus more on budget and mid-range phones.
Nokia Key People:
Chairman: Jean-Francois Baril
CEO: Florian Seiche
COO: Alain Lejeune
HMD Global Official Website: https://www.hmdglobal.com/
Headquarters: Espoo, Finland
So that’s all about who owns Nokia now.
This post was last modified on January 16, 2024 3:32 PM