
Petroc Taylor
Research expert covering global developments in the use of data
Get in touch with us nowIn 2023, Nokia generated 22.26 billion euros in net sales, a decrease on the 24.9 billion generated the previous year.
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.
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.
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1 All prices do not include sales tax. The account requires an annual contract and will renew after one year to the regular list price.