In 2020, Nokia had 21.87 billion euros in net sales, which is a small decrease from the year before. In the past decade, the company has made several directional shifts from handheld devices to network infrastructure in order to keep up with the quickly evolving electronics and telecommunications industry.
Focus on B2B markets and products
After selling its mobile and devices segment to Microsoft in 2014, Nokia has focused on its network infrastructure business. The company is now offering an end-to-end portfolio of software, services, equipment, and licensing products focused on B2B network customers. In recent years, Nokia has invested strongly into research and development developing 5G cellular network technology, and competes with Ericsson, Huawei, and others to implement this infrastructure.
Smartphone pioneer to mobile infrastructure
Over 150 years old, Nokia has experience adapting to changing market environments, entering new markets, and developing new products. Since the early 2000s, Nokia was known primarily as a cell phone manufacturer. However, facing strong competition from Apple and Samsung, Nokia’s sales dropped in the late 2000s. One reason for the decline in Nokia’s share of the mobile phone market was holding on too long onto its own mobile operating system (OS) Symbian and not switching over to the at the time up and coming OS Android by Google. In 2014, Nokia sold its devices & services business to Microsoft for 5.44 billion euros. Since then, Nokia only sells branding licenses for smartphones, in a small but lucrative business segment.
Nokia's net sales from 1999 to 2020
(in billion euros)
* In 2013 Nokia sold its devices & services business to Microsoft for 5.44 billion euros. Therfore 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. (February 4, 2021). Nokia's net sales from 1999 to 2020 (in billion euros) [Graph]. In Statista. Retrieved April 12, 2021, from https://www.statista.com/statistics/267819/nokias-net-sales-since-1999/
Nokia. "Nokia's net sales from 1999 to 2020 (in billion euros)." Chart. February 4, 2021. Statista. Accessed April 12, 2021. https://www.statista.com/statistics/267819/nokias-net-sales-since-1999/
Nokia. (2021). Nokia's net sales from 1999 to 2020 (in billion euros). Statista. Statista Inc.. Accessed: April 12, 2021. https://www.statista.com/statistics/267819/nokias-net-sales-since-1999/
Nokia. "Nokia's Net Sales from 1999 to 2020 (in Billion Euros)." Statista, Statista Inc., 4 Feb 2021, https://www.statista.com/statistics/267819/nokias-net-sales-since-1999/
Nokia, Nokia's net sales from 1999 to 2020 (in billion euros) Statista, https://www.statista.com/statistics/267819/nokias-net-sales-since-1999/ (last visited April 12, 2021)