Nokia Company Summary
Nokia is structured into the major business segments/divisions of Nokia Networks, Nokia Software, Nokia Technologies, Nokia Licensing, and "Group Common and Other." The company's major product lines are phones, home WiFi, software, hardware, services, and licensing. Below, we provided insights about Nokia's structure, strategy, major product lines, most-recent annual reports, and the most-recent analyst reports about Nokia that we found.
- Rajeev Suri, President & CEO
- Nassib Abou-Khalil, Chief Legal Officer
- Barry French, Chief Marketing Officer
- Kristian Pullola, CFO
- Gabriela Styf Sjöman, Chief Strategy Officer
- Marcus Weldon, Corporate Chief Technology Officer & President of Nokia Bell Labs
- Stephanie Werner, Chief Human Resources Officer
- Bhaskar Gorti, Chief Digital Officer & President of Nokia Software
2. Other Top Executives
- Tommi Uitto, President of Mobile Networks
- Sandra Motley, President of Fixed Networks
- Kathrin Buvac, President of Nokia Enterprise
- Jenni Lukander, President of Nokia Technologies
- Basil Alwan, Co-President of IP/Optical Networks
- Sri Reddy, Co-President of IP/Optical Networks
- Sanjay Goel, President of Nokia Operations & President of Global Services
- Ricky Corker, President of Customer Operations for the Americas
- Federico Guillén, President of Customer Operations for the EMEA & APAC regions
B. Major Divisions & Groups
- Nokia is structured into the following general segments/divisions: Nokia Networks, Nokia Software, Nokia Technologies, Nokia Licensing, and "Group Common and Other."
- Nokia is structured into the following business groups: Mobile Networks, Fixed Networks, Nokia Enterprise, IP/Optical Networks, Nokia Bell Labs, Nokia Operations, Nokia Global Services, and Customer Operations.
Strategy (Current & Future Goals)
- Nokia's CEO recently announced that a goal the company has for 2020 is to generate cash and "execute in Mobile Access ."
- The company has a long-term goal of becoming "one of the top smartphone players globally."
- Nokia has a goal for 2020 of reducing its costs by approximately $538 million (reported as €500 million) as compared with such amount in 2018.
- For its Mobile Networks business, Nokia strives "to be a leader in 5G and provide the best value to our customers as they evolve their networks."
- In China, Nokia has a goal of improving its "overall business mix in the region." As such, the company further states that it "expect[s] to be prudent in 5G, while targeting more attractive opportunities with communication service providers in other parts of our business such as core, routing, transport, fixed access and LTE, as well as with enterprise and webscale customers."
- In its 2019 Annual Report, Nokia identified another goal in stating that "[t]he networks we have delivered to our customers serve 6.4 billion subscriptions globally as we work towards our goal of connecting the next billion."
- Another goal that Nokia has is to "re-establish investment grade credit ratings."
Major Product Lines
- Phones are one of Nokia's major product lines. Within that product line, Nokia sells Android phones, phones for enterprises, and accessories for phones.
- Millennials are the market that Nokia is targeting its smartphones towards, as 66% of the company's smartphone customers globally are 35 years of age or younger. More specifically and with regard to the U.S., Nokia's general target market is focused on "existing gaps in the U.S. value and mid-range smartphone segments, where more than a third of consumers are already purchasing."
- Home WiFi is one of Nokia's major product lines. The company's WiFi network operates through rerouting, as its "mesh network intelligently finds the best path to send data in as fast as 500ms" via its beacon devices.
- Software is a major product line for Nokia. Per Nokia's CEO, the market that Nokia targets for the enterprise part of its business is "high-growth, high-margin opportunities with a limited set of companies needing telco-grade networks", which the company has achieved strong success in targeting.
- Hardware is one of Nokia's major product lines. The company offers several hardware services, which are Nokia Digital Assistant, Predictive Care, Predictive Repair, Asset, Recovery, Maintenance Services, and Multivendor Care. Wireless carriers are the target market for Nokia's hardware products.
- Services is a major product line for Nokia. The services offered are for 5G, AI & Analytics, Cloud, IoT, Deploy, Fixed Networks, Managed, Technical Support, Public Sector, and Industry. Nokia's target market for the enterprise part of its business is "high-growth, high-margin opportunities with a limited set of companies needing telco-grade networks", which the company has achieved strong success in targeting.
- Licensing is the other major product line for Nokia. The company's patent portfolio consists of more than "26,000 patent families." Patents for which Nokia "holds a significant share" include 3G radio, GSM, WiFi, video standards, technologies involving 4G LTE, and "technologies that reduce the need for hardware components in a phone, improve radio reception and enhance battery life."
- Vendors of chipsets and handsets for licensing are the main market that Nokia targets for its licensing business. Additionally, "Nokia has expanded its licensing operations to markets including Chinese mobile OEMs, who have been growing their global market share, and customers in the automotive sector."
Links to Most-Recent Annual Reports
- This link is to Nokia's 2019 Annual Report.
- This link is to the company's 2018 Annual Report.
- This link is to Nokia's 2017 Annual Report.
Links to Most-Recent Analyst Reports
- This link is to an analyst report about Nokia from MarketWatch dated March 5, 2020.
- This link is to an analyst report about Nokia from Investor Place dated March 4, 2020.
- This link is to an analyst report about Nokia from Morningstar dated March 2, 2020.
- This link is to an analyst report about Nokia from Investor Place dated February 21, 2020.