Finland’s top companies extend beyond Nokia

Article Excerpt

Nokia is probably the most famous of the large Finnish companies, with a history that dates back to 1865 when it started operating a single paper mill. Over the years, Nokia has ventured into different markets and emerged as a global leader in the early days of the mobile phone industry. In fact, Nokia was the leading mobile phone vendor in the world up to early 2012. However, it failed to keep up, and gradually lost its market-leading position to rivals like Samsung and Apple. In 2013, Nokia sold its phone business to Microsoft. After the sale of its mobile devices division, Nokia focused on the data networking services and telecommunications equipment business through its subsidiary Nokia Networks. In 2016, it purchased a majority stake in French telecommunications equipment company Alcatel-Lucent. As of 2020, Nokia is one of the leading telecom infrastructure companies. Its main competitors are Huawei, Cisco, Ericsson, and Qualcomm. The development of 5G networks, where Nokia’s small-cell antenna equipment is considered the…