Status of Nokia Corporation: under the pressure of market challenges and declining performance, Nokia reorganized and restructured its strategy.
Nokia Corporation decided to shift its business focus from consumer handsets to network equipment and solutions. Nokia gradually moved away from its handset manufacturing business to focus on areas such as 5G network infrastructure and digital transformation solutions.
As one of the world's leading telecom equipment suppliers, Nokia has had some success in the network equipment business. The company provides 5G network equipment and solutions to telecom operators worldwide and is committed to driving digital transformation and smart connectivity. By partnering with operators, Nokia has gained a foothold in the 5G era and achieved significant revenues.
Nokia has a large patent portfolio in the field of communications technology, which provides the company with an additional source of revenue. Nokia earned substantial patent licensing fees by licensing and permitting its patented technologies to other companies. This became one of Nokia's key sources of revenue and provided the company with a steady cash flow.
Besides the networking equipment sector, Nokia is also active in the digital health and technology solutions sector. The company is committed to driving innovation in digital health and wellness by developing health monitoring devices and providing healthcare solutions. This business segment brings new growth opportunities and diversified revenue streams to Nokia.
Big things to happen at Nokia in 2023
On February 26, 2023, Nokia announced that it planned to change its brand mark logo for the first time in nearly 60 years, using a new logo; the new logo consists of five different shapes that form the "NOKIA "In addition, the iconic blue color of the old logo has been replaced with a range of colors.
On May 5, 2023, Nokia Bell's official WeChat public number updated the article to announce the launch of the first EU CE-certified 5G integrated drone solution. It includes Nokia drone, docking station, dual gimbal camera and Nokia MXIE edge cloud processor.
On June 15, 2023, Nokia announced that it had completed testing of a new 5G network slicing solution that allows Android users to purchase and activate network slices on-demand from their operators.
Reference for the above: Baidu Encyclopedia-Nokia