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Find new investment opportunities based on Market Sentiment Indicator. Manage watchlist risk with leading indicator of volatility See what influential analysts and investors are saying about stocks in your watchlist
Most Trending
Most Trending
Nokia was once the largest mobile phone manufacturer in the world, with its iconic Nokia 3310 and Nokia 1100 phones being among the best-selling mobile phones of all time.
However, Nokia struggled to keep up with the rapid rise of smartphones and eventually sold its mobile phone business to Microsoft in 2014. Since then, Nokia has shifted its focus to providing network infrastructure and services for telecommunications companies.
Nokia is a major player in the telecommunications industry, providing products and services in areas such as 5G networks, cloud infrastructure, and digital health. The company is headquartered in Espoo, Finland, and operates in more than 100 countries around the world.
Now, the company is announcing plans to change its brand identity for the first time in nearly 60 years, complete with a new logo, as the telecom equipment maker want to focuses on aggressive growth.
"There was the association to smartphones and nowadays we are a business technology company," Chief Executive Pekka Lundmark told Reuters in an interview.
After taking over the top job at the struggling Finnish company in 2020, Lundmark set out a strategy with three stages: reset, accelerate and scale. With the reset stage now complete, Lundmark said the second stage is beginning.
While Nokia still aims to grow its service provider business, where it sells equipment to telecom companies, its main focus is now to sell gear to other businesses.
"We had very good 21% growth last year in enterprise, which is currently about 8% of our sales, (or) 2 billion euros ($2.11 billion) roughly," Lundmark said. "We want to take that to double digits as quickly as possible."
Major technology firms have been partnering with telecom gear makers such as Nokia to sell private 5G networks and gears for automated factories to customers, mostly in the manufacturing sector.
Nokia plans to review the growth path of its different businesses and consider alternatives, including divestment. The signal is very clear. We only want to be in businesses where we can see global leadership," Lundmark said.
Maybe the signal is very clear for stock as well, this turnaround could be a great time to buy the stock.
Please note that the article should not be considered as investment advice or marketing, and it does not take into account the personal data and requirements of any individual. It is not a substitute for the reader's own judgment, and it should not be considered as advice or recommendation for buying or selling any securities or financial products.
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Disclaimer:
The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained.
The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.
Please note that no offer or solicitation to buy or sell securities, securities derivatives of future products of any kind, or any type of trading or invesment advise, recommendation or strategy, is made, given or endorsed by StocksRunner including any of their affiliates ("TS").
This information is provided for illustrative purposes only. You should not rely on any advice and/or information contained in this website and before making any investment decision. we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.
Find out what happening right now and get all the pieces of the puzzle on important data activity before the major news sources break the story and see what are the trends
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Disclaimer:
The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained.
The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.
Please note that no offer or solicitation to buy or sell securities, securities derivatives of future products of any kind, or any type of trading or invesment advise, recommendation or strategy, is made, given or endorsed by StocksRunner including any of their affiliates ("TS").
This information is provided for illustrative purposes only. You should not rely on any advice and/or information contained in this website and before making any investment decision. we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.
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