Revenue of Nokia by business segment 2016-2019

In 2019, Nokia’s Networks Business generated around 18.21 billion euros in revenue, continuing to bring in the majority of Nokia’s revenue. In total, the company reached 23.32 billion euros in revenue, representing a small decline from previous years.

Change in Nokia’s strategy

Within Nokia’s networks business segment, revenue comes from three products: Ultra Broadband Networks, Global services, and IP networks and applications. More than 40 percent of Nokia’s network business revenue came from Ultra Broadband Networks, which is comprised of mobile networking solutions and cable access products. In recent years Nokia’s Networks business has been affected by several prominent industry trends, including a growth in use of data services with a resulting rise of data traffic, which means Nokia’s strategy has shifted to providing end-to-end networks and being at the forefront of products for the 5G era.

From cell phones to network technology

In recent years, Nokia has strategically focused on network infrastructure. For example, in 2016 Nokia completed its acquisition of French telecommunications equipment company Alcatel-Lucent, which now operates under the Group Common and Other segment as a separate entity. This merger provided access to a lucrative combination of fixed and mobile networks, laying the groundwork for Nokia to have strong potential in the emerging market for 5G infrastructures.

Nokia's revenue by business segment in 2016 and 2019 (in billion euros)*

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Source

Release date

February 2020

Region

Worldwide

Survey time period

2016 to 2019

Supplementary notes

* Nokia standalone historicals are the recasting of Nokia's historical standalone financial results, reflecting Nokia's updated segment reporting structure, excluding AlcatelLucent. Beginning from the first quarter 2016, Nokia results include those of Alcatel-Lucent on a consolidated basis.

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