In 2021, Nokia’s Networks Business generated over 20 billion euros in revenue from its mobile networks, network infrastructure, and cloud and network services segments, continuing to bring in the majority of Nokia’s revenue. In total, the company reached 22.2 billion euros in revenue, representing an increase from the previous year.
Change in Nokia’s strategy
Within Nokia’s networks business segment, revenue comes from four products: Mobile Access, Fixed Access, IP Routing and Optical Networks. More than 60 percent of Nokia’s network business revenue came from Mobile Access, which is comprised of mobile networking solutions and global services operating segments. 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 net sales worldwide from 2016 to 2021, by segment
(in billion euros)
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Nokia. (February 2, 2022). Nokia net sales worldwide from 2016 to 2021, by segment (in billion euros) [Graph]. In Statista. Retrieved July 05, 2022, from https://www.statista.com/statistics/275346/nokias-revenue-by-business-segment/
Nokia. "Nokia net sales worldwide from 2016 to 2021, by segment (in billion euros)." Chart. February 2, 2022. Statista. Accessed July 05, 2022. https://www.statista.com/statistics/275346/nokias-revenue-by-business-segment/
Nokia. (2022). Nokia net sales worldwide from 2016 to 2021, by segment (in billion euros). Statista. Statista Inc.. Accessed: July 05, 2022. https://www.statista.com/statistics/275346/nokias-revenue-by-business-segment/
Nokia. "Nokia Net Sales Worldwide from 2016 to 2021, by Segment (in Billion Euros)." Statista, Statista Inc., 2 Feb 2022, https://www.statista.com/statistics/275346/nokias-revenue-by-business-segment/
Nokia, Nokia net sales worldwide from 2016 to 2021, by segment (in billion euros) Statista, https://www.statista.com/statistics/275346/nokias-revenue-by-business-segment/ (last visited July 05, 2022)