Nokia is a Finnish communications and information technology multinational corporation that is headquartered in Espoo, Uusimaa, in the greater Helsinki metropolitan area. Its Nokia Networks subsidiary provides telecommunications network equipment and services. Its wholly owned subsidiary HERE provides free-of-charge digital map information and navigation services.
As of 2013, Nokia employed 90,000 people across 120 countries, conducts sales in more than 150 countries and reported annual revenues of around €12.7 billion. Nokia is a public limited-liability company listed on the Helsinki Stock Exchange and New York Stock Exchange. It is the world's 274th-largest company measured by 2013 revenues according to the Fortune Global 500.
In September 2013, Nokia sold what was once the world's largest vendor of mobile phones to Microsoft as part of an overall deal totaling €5.44 billion (US$7.17 billion). Stephen Elop, Nokia's former CEO, and several other executives joined the new Microsoft Mobile subsidiary of Microsoft as part of the deal, which closed on 25 April 2014. The predecessors of the modern Nokia were the Nokia Company (Nokia Aktiebolag), Finnish Rubber Works Ltd (Suomen Gummitehdas Oy) and Finnish Cable Works Ltd (Suomen Kaapelitehdas Oy).
Nokia Ab's history started in 1865 when mining engineer Fredrik Idestam established a ground wood pulp mill on the banks of the Tammerkoski rapids in the town of Tampere, in southwestern Finland (part of the Russian Empire). In 1868, Idestam built a second mill near the town of Nokia, fifteen kilometers (nine miles) west of Tampere, by the Nokianvirta river, which had better hydropower resources. In 1871, Idestam, with the help of close friend and statesman Leo Mechelin, renamed and transformed his firm into a share company, thereby founding Nokia Ab. The company's name came from the Nokianvirta river, nearby which the factories of Eduard Polón's company, Suomen Gummitehdas, were located a few years later.
Eduard Polón (1861-1930), Nokia's founder, was a Finnish business leader. He was founder, CEO, Chairman of the Board and the largest shareholder of the Suomen Gummitehdas ("Finnish Rubber Works"). He led the development of a new rubber industry in Finland. His group of companies built a modern wood and cable industry in Finland. Polón decided to use the name "Nokia", the town where his factories were based, as a brand name for his products to differentiate his products from Russian competitors. The legacy of Suomen Gummitehdas lives on in Nokian Tyres.
Although these three companies—Suomen Gummitehdas, Suomen Kaapelitehdas and Nokia Ab—were not formally merged, as the law did not allow it at the time, Polón continued to create a successful conglomerate that later became Nokia PLC. Polòn was the chairman, managing director, and the largest owner of the group for 30 years.
Towards the end of the 19th century, Mechelin sought to expand into the electricity business, but his aspiration was initially thwarted by Idestam's opposition. However, Idestam's retirement in 1896 allowed Mechelin to become the company's chairman (from 1898 until 1914), and he subsequently convinced shareholders. In 1902, Nokia added electricity generation to its business activities.
In 2010 pressure on Nokia increased dramatically as Android and iOS continued to make gains. Other Symbian makers including Samsung and Sony Ericsson chose to make Android-powered smartphones instead of Symbian, and by mid-2010 Nokia was its only OEM outside of Japan. Nokia developed Symbian^3 to replace S60, but it never became popular. By Q4 2010, Symbian's market share dipped to 32%, surpassed by Android at 30%. Despite losing share, the smartphone unit was profitable and smartphone unit sales increased every quarter during 2010. An estimated 4 million units were sold in Q4 2010.
In 2011, The Brand Trust Report, India Study, awarded Nokia as India's Most Trusted Brand. The study was conducted by TRA Research, a leading brand analytics company. Nokia also received the Most Trusted Brand in India accolade in the year 2012 and 2013. However Nokia's ranking on The Brand Trust Report fell in 2014 to India's fifth Most Trusted Brand.
Source: Wikipedia.
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