Nokia Corporation (Finnish: Nokia Oyj, Finnish pronunciation: ['noki?], UK /'n?ki?/, US /'no?ki?/) is a Finnish multinational communications and information technology company. Nokia is headquartered in Espoo, Uusimaa, in the greater Helsinki metropolitan area. In 2014, Nokia employed 61,656 people across 120 countries, conducts sales in more than 150 countries and reported annual revenues of around EUR12.73 billion. Nokia is a public limited-liability company listed on the Helsinki Stock Exchange and New York Stock Exchange. It is the world's 274th-largest company measured by 2013 revenues according to the Fortune Global 500.
The company currently focuses on large-scale telecommunications infrastructures, technology development and licensing. Nokia is also a major contributor to the mobile telephony industry, having assisted in development of the GSM and LTE standards, and was, for a period, the largest vendor of mobile phones in the world. Nokia's dominance also extended into the smartphone industry through its Symbian platform, but it was soon overshadowed by the growing dominance of Apple's iPhone line and Android devices. Nokia eventually entered into a pact with Microsoft in 2011 to exclusively use its Windows Phone platform on future smartphones.
In September 2013, Microsoft announced that it would acquire Nokia's mobile phone business as part of an overall deal totaling EUR5.44 billion (US $7.17 billion). Stephen Elop, Nokia's former CEO, and several other executives joined the new Microsoft Mobile subsidiary of Microsoft as part of the deal, which was completed on April 25, 2014. In November 2014, Nokia began to license product designs and technologies to third-party manufacturers, to enable a continued presence for the Nokia brand in the consumer electronics hardware market. The company is a component of the Euro Stoxx 50 stock market index.
History
2014 to present
In October 2014, Nokia and China Mobile signed a $970 million framework deal for delivery between 2014 and 2015.
On November 17, 2014, Nokia technologies head Ramzi Haidamus disclosed that the company planned to re-enter the consumer electronics business by licensing in-house hardware designs and technologies to third-party manufacturers. Haidamus stated that the Nokia brand was "valuable" but "is diminishing in value, and that's why it is important that we reverse that trend very quickly, imminently." The next day, Nokia unveiled the N1, an Android tablet manufactured by Foxconn, as its first product following the Microsoft sale. Haidamus emphasized that devices released under these licensing agreements would be held to high standards in production quality, and would "look and feel just like Nokia built it." Nokia CEO Rajeev Suri has stated that the company plans to re-enter the mobile phone business in this manner in 2016, following the expiration of its non-compete clause with Microsoft.
Acquisition of Alcatel-Lucent, sale of Here
On April 14, 2015, Nokia confirmed that it was in talks with the French telecommunications equipment company Alcatel-Lucent regarding a potential merger. The next day, Nokia officially announced that it had agreed to purchase Alcatel-Lucent for EUR15.6 billion in an all-stock deal. The acquisition aims to create a stronger competitor to the rival firms Ericsson and Huawei, whom Nokia and Alcatel-Lucent had surpassed in terms of total combined revenue in 2014. The acquisition is expected to be completed in early 2016, and is subject to regulatory approval. At completion, Nokia shareholders will hold 66.5% while Alcatel-Lucent shareholders will hold 33.5% of the new combined company. The Bell Labs division will be maintained, but the Alcatel-Lucent brand will be replaced by Nokia. As of October 2015, following approval of the deal by China's Ministry of Commerce, the merger awaits approval by French regulators.
On August 3, 2015, Nokia announced that it had reached a deal to sell its Here digital maps division to a consortium of three German automakers--BMW, Daimler AG, and Volkswagen Group, for EUR2.8 billion.
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Operations
Nokia is a public limited-liability company listed on the Helsinki and New York stock exchanges. Nokia played a very large role in the economy of Finland. It is an important employer in Finland and works with multiple local partners and subcontractors. Nokia contributed 1.6% to Finland's GDP, and accounted for about 16% of Finland's exports in 2006.
Nokia currently comprises two business groups: Nokia Networks and Nokia Technologies.
Nokia Networks
Nokia Networks (previously known as Nokia Siemens Networks (NSN) and Nokia Solutions and Networks (NSN)) is a multinational data networking and telecommunications equipment company headquartered in Espoo, Finland. It is the world's fourth-largest telecoms equipment manufacturer measured by 2011 revenues (after Ericsson, Huawei and Alcatel-Lucent). It has operations in around 150 countries.
The NSN brand identity was launched at the 3GSM World Congress in Barcelona in February 2007 as a joint venture between Nokia (50.1%) and Siemens (49.9%), but is now a wholly owned subsidiary of Nokia. It provides wireless and fixed network infrastructure, communications and networks service platforms, as well as professional services to operators and service providers. It focuses on GSM, EDGE, 3G/W-CDMA, LTE and WiMAX radio access networks; core networks with increasing IP and multiaccess capabilities and services.
In July 2013, Nokia bought back all shares in Nokia Siemens Networks for a sum of US$2.21 billion and renamed it to Nokia Networks.
Nokia Technologies
Nokia Technologies develops and licenses innovations and the Nokia brand.
Nokia Technologies consists of an advanced development team. The development is done in wide areas from imaging, sensing, wireless connectivity, power management and advanced materials. Other areas are the expansion of IP licensing program.
Nokia Technologies also provides public participation in its development through a program Invent with Nokia.
In November 2014, Nokia Technologies launched N1, an Android Lollipop tablet manufactured by Foxconn, as its first product following the Microsoft sale.
Corporate affairs
Corporate governance
The control and management of Nokia is divided among the shareholders at a general meeting and the Nokia Leadership Team (left), under the direction of the board of directors (right). The chairman and the rest of the Nokia Leadership Team members are appointed by the board of directors. Only the Chairman of the Nokia Leadership Team can belong to both the board of directors and the Nokia Leadership Team. The board of directors' committees consist of the Audit Committee, the Personnel Committee and the Corporate Governance and Nomination Committee.
The operations of the company are managed within the framework set by the Finnish Companies Act, Nokia's Articles of Association and Corporate Governance Guidelines, and related board of directors adopted charters.
Former corporate officers
Stock
Nokia is a public limited liability company and is the oldest company listed under the same name on the Helsinki Stock Exchange, beginning in 1915. Nokia has had a secondary listing on the New York Stock Exchange since 1994. Nokia shares were delisted from the London Stock Exchange in 2003, the Paris Stock Exchange in 2004, the Stockholm Stock Exchange in 2007 and the Frankfurt Stock Exchange in 2012.
In 2007, Nokia had a market capitalisation of EUR110 billion; by July 17, 2012 this had fallen to EUR6.28 billion; by 23 February 2015, the market cap had increased to EUR26.07 billion.
Corporate culture
Nokia's official corporate culture manifesto, The Nokia Way, emphasises the speed and flexibility of decision-making in a flat, networked organization.
The official business language of Nokia is English. All documentation is written in English, and is used in official intra-company spoken communication and e-mail.
In May 2007, Nokia redefined its values after initiating a series of discussions worldwide as to what the new values of the company should be. Based on the employee suggestions, the new values were defined as: Engaging You, Achieving Together, Passion for Innovation and Very Human.
In August 2014, Nokia redefined its values after the sale of its Devices business. The new values were defined with the key words Respect, Achievement, Renewal and Challenge.
Headquarters
The Nokia House was the head office building of Nokia Corporation, located in Keilaniemi, Espoo, just outside Helsinki, the capital of Finland. The two most southern parts of the building were built in the early 1990s and the third most northern part was built in 2000. Around 5000 employees work in the premises.
In December 2012, Nokia announced that it has sold its head office building to Finland-based Exilion for EUR170 million and leasing it on a long term basis.
The building was sold to Microsoft as a part of sale of mobile phone business in April 2014. The building was renamed to Microsoft Talo.
After the sale, Nokia has its headquarters in Karaportti, Espoo, Finland.
Logos
Controversies
NSN's provision of intercept capability to Iran
In 2008, Nokia Siemens Networks, a joint venture between Nokia and Siemens AG, reportedly provided Iran's monopoly telecom company with technology that allowed it to intercept the Internet communications of its citizens. The technology reportedly allowed Iran to use deep packet inspection to read and even change the content of everything from "e-mails and Internet phone calls to images and messages on social-networking sites such as Facebook and Twitter". The technology "enables authorities to not only block communication but to monitor it to gather information about individuals, as well as alter it for disinformation purposes,".
During the post-election protests in Iran in June 2009, Iran's Internet access was reported to have slowed to less than a tenth of its normal speeds, and experts suspected this was due to the use of the interception technology.
In July 2009, Nokia began to experience a boycott of their products and services in Iran. The boycott was led by consumers sympathetic to the post-election protest movement and targeted at those companies deemed to be collaborating with the Islamic regime. Demand for handsets fell and users began shunning SMS messaging.
The joint venture company, Nokia Siemens Networks, asserted in a press release that it provided Iran only with a 'lawful intercept capability' "solely for monitoring of local voice calls". "Nokia Siemens Networks has not provided any deep packet inspection, web censorship or Internet filtering capability to Iran," it said.
Lex Nokia
In 2009, Nokia heavily supported a law in Finland that allows companies to monitor their employees' electronic communications in cases of suspected information leaking. Contrary to rumors, Nokia denied that the company would have considered moving its head office out of Finland if laws on electronic surveillance were not changed. The Finnish media dubbed the law Lex Nokia because it was implemented as a result of Nokia's pressure.
The law was enacted, but with strict requirements for implementation of its provisions. Until February 2013, no company had used its provisions. In 25 February the Office of Data Protection Ombudsman confirmed that city of Hämeenlinna had recently given the required notice.
Nokia-Apple patent dispute
In October 2009, Nokia filed a lawsuit against Apple Inc. in the U.S. District Court of Delaware claiming that Apple infringed on 10 of its patents related to wireless communication including data transfer. Apple was quick to respond with a countersuit filed in December 2009 accusing Nokia of 11 patent infringements. Apple's General Counsel, Bruce Sewell went a step further by stating, "Other companies must compete with us by inventing their own technologies, not just by stealing ours." This resulted in an ugly spat between the two telecom majors with Nokia filing another suit, this time with the U.S. International Trade Commission (ITC), alleging Apple of infringing its patents in "virtually all of its mobile phones, portable music players and computers." Nokia went on to ask the court to bar all U.S. imports of the Apple products including the iPhone, Mac and the iPod. Apple countersued by filing a complaint with the ITC in January 2010.
In June 2011, Apple settled with Nokia and agreed to an estimated one time payment of $600 million and royalties to Nokia. The two companies also agreed on a cross-licensing patents for some of their patented technologies.
Alleged tax evasion in India
Nokia's Indian subsidiary has been charged with non-payment of TDS and transgressing transfer pricing norms in India. The unpaid TDS of INR30 billion, accrued during a course of six years, was due to royalty paid by the Indian subsidiary to its parent company.
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