It was feared that trying to become a leader in electronics while maintaining these basic industries would create an unmanageably unfocused company. In late Nokia acquired Salora, the largest color television manufacturer in Scandinavia, and Luxor, the Swedish state-owned electronics and computer firm.
By agreement, this trade was kept strictly in balance. Brazil ; Nokia Finance International B. Indeed, more than half of the new shares issued by Nokia in went to foreign investors. Nevertheless, Nokia had positioned itself well for the long haul, and within just a year or two it was arch-rival Motorola, Inc.
In Nokia reorganized its management structure to simplify reporting efforts and improve control by central management. Kairamo decided, therefore, to follow the example of many Japanese companies during the s and Korean manufacturers a decade later and negotiate to become an original equipment manufacturer, or OEM, to manufacture products for competitors as a subcontractor.
Years of political accommodation between Finland and the Soviet Union ensured Finnish neutrality in exchange for lucrative trade agreements with the Soviets, mainly Finnish lumber products and machinery in exchange for Soviet oil.
After the company had improved its product line, established a reputation for quality, and adjusted its production capacity, it would enter the world market. The Enterprise Solutions group develops wireless systems for use in the corporate sector. A year after the network came on line inNokia gained percent control of Mobira, the Finnish mobile phone company that would later become its key business interest as the Nokia Mobile Phones division.
The company began selling digital cellular phones in Netherlands ; Nokia Poland Sp Z.
Balanced trade began to mean greatly reduced purchasing power for Finnish companies such as Nokia. There were, however, several risks involved, those inherent in any OEM arrangement. Meanwhile, net sales increased a further 48 percent inwhile operating profits grew by 57 percent; riding the late s high-tech stock boom, the market capitalization of Nokia took another huge leap, ending the year at EUR But, notwithstanding these difficulties, Nokia remained committed to its high-tech orientation.
Chronology Nokia is founded as a maker of pulp and paper. Having dabbled in telecommunications in the s, Nokia cut its teeth in the industry by selling switching systems under license from a French company, Alcatel.
But for many years, Nokia remained an important yet static firm in a relatively forgotten corner of northern Europe. This would prevent the bleeding of funds away from the all-important effort in electronics while preventing the heavy industries from becoming any less profitable.
Although the effects were not catastrophic, the oil crisis did force Nokia to reassess its reliance on Soviet trade about 12 percent of sales as well as its international growth strategies.
As the industry became increasingly energy-intensive, the company even constructed its own power plants. In late and earlyNokia suffered a temporary setback stemming from a shortage of chips for its digital cellular phones and a resultant disruption of its logistics chain.
Having divested Nokia Data inNokia focused further on its telecommunications core by selling off its power unit in and its television and tire and cable units the following year. Nokia moved boldly into Western markets; it gained a listing on the London exchange in and was subsequently listed on the New York exchange.
During the early s Nokia began to diversify in an attempt to transform the company into a regional conglomerate with interests beyond Finnish borders.
Electronics grew from 10 percent of annual sales to 60 percent of revenues from to Including the and other models, Nokia sold nearly 41 million cellular phones in The Multimedia segment sells mobile gaming devices, home satellite systems, and cable television set-top boxes.Aug 24, · Only a company representative may request an update for the company profile.
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Nokia Corporation is the world's largest manufacturer of mobile phones, serving customers in countries. Nokia is divided into four business groups: Mobile Phones, Multimedia, Enterprise Solutions, and Networks. Nokia Oyj is a global communications company. The Company produces a broad range of technological devices and software, and operates networks, sales,and communication channels worldwide.
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