In 2022, Nokia generated 24.9 billion euros in net sales, an increase from the year before where the company made 22.2 billion euros.
Founded in 1865, Nokia is a Finnish communications and information technology company. Over the years, Nokia has ventured into different markets: Nokia emerged as a global leader in the mobile market in the early days of the mobile and smartphone era. The company also played a key role in the development of GSM (Global System for Mobile Communications) in the late 1980s and early 1990s. Nokia was once the leading mobile phone vendor. However, due to slow adaptation to newer smartphone technologies, Nokia gradually lost its market-leading position to rivals like Samsung and Apple and its mobile business began to lose money.
Nokia’s business evolution
After the sale of its mobile devices division, Nokia focused on the data networking services and telecommunications equipment business through its subsidiary Nokia Networks. As of 2020, Nokia's Networks Business is the most revenue-generating business segment of Nokia. The company has also been involved in cloud computing and mapping applications. As one of the leading telecom infrastructure companies, Nokia faces competition from Huawei, Cisco, Ericsson, and Qualcomm.
Nokia net sales worldwide from 1999 to 2022
(in billion euros)
* In 2013 Nokia sold its devices & services business to Microsoft for 5.44 billion euros. Therefore sales from that segment are no longer part of Nokia's overall revenue. The sales of Nokia in 2012 without the devices and services business were at 15.4 billion euros.
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Nokia. (March 2, 2023). Nokia net sales worldwide from 1999 to 2022 (in billion euros) [Graph]. In Statista. Retrieved September 28, 2023, from https://www.statista.com/statistics/267819/nokias-net-sales-since-1999/
Nokia. "Nokia net sales worldwide from 1999 to 2022 (in billion euros)." Chart. March 2, 2023. Statista. Accessed September 28, 2023. https://www.statista.com/statistics/267819/nokias-net-sales-since-1999/
Nokia. (2023). Nokia net sales worldwide from 1999 to 2022 (in billion euros). Statista. Statista Inc.. Accessed: September 28, 2023. https://www.statista.com/statistics/267819/nokias-net-sales-since-1999/
Nokia. "Nokia Net Sales Worldwide from 1999 to 2022 (in Billion Euros)." Statista, Statista Inc., 2 Mar 2023, https://www.statista.com/statistics/267819/nokias-net-sales-since-1999/
Nokia, Nokia net sales worldwide from 1999 to 2022 (in billion euros) Statista, https://www.statista.com/statistics/267819/nokias-net-sales-since-1999/ (last visited September 28, 2023)
Nokia net sales worldwide from 1999 to 2022 (in billion euros) [Graph], Nokia, March 2, 2023. [Online]. Available: https://www.statista.com/statistics/267819/nokias-net-sales-since-1999/