Close
  • Latest News
  • Artificial Intelligence
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Logo
  • Latest News
  • Artificial Intelligence
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Cloud
    • Cloud
    • Mobile
    • Networking

    Nokia, No Longer in Mobile Market, Preps for Future

    By
    Michelle Maisto
    -
    April 30, 2014
    Share
    Facebook
    Twitter
    Linkedin

      Nokia, the nearly 150-year-old Finnish company that early on focused on rubber, forestry and cables, is in the process of reinventing itself yet again.

      On Friday, April 25, Nokia completed the $7.5 billion sale of its Devices and Services business to Microsoft. The company that was for years the worldwide leader in mobile phone sales, introducing the first smartphones to business users, while also giving millions of people in developing markets their very first connections to the Internet, for the first time in three decades has no hand in the mobile phone market.

      What it will focus on, it has said, are three businesses: Networks (in July 2013 it bought out Siemens’ shares of the Nokia Siemens Network (NSN); its Here navigation and mapping suite; and Technologies, which includes its considerable patent portfolio, licensing arrangements and research activities.

      Four days after completing of the handset sale, the company announced the appointment of Rajeev Suri, who had been CEO of NSN since 2009, as its new CEO.

      “As Nokia opens this new chapter, the Nokia Board and I are confident that Rajeev is the right person to lead the company forward,” Riso Siilasmaa, chairman of the Nokia board of directors, said in a statement. “He has a proven ability to create strategic clarity, drive innovation and growth, ensure disciplined execution and deliver results.”

      Suri described himself and the staff as about to embark on an “exciting journey.”

      “Nokia, with its deep experience in connecting people and its three strong businesses,” he added, “is well-positioned to tap new opportunities during this time of technological change.”

      More specifically, Nokia believes that over the next 10 years, “billions of devices will converge into intelligent and programmable systems that will have the potential to improve lives in a vast number of areas: time and availability, transportation and resource consumption, learning, work, health and wellness and many more,” it said in a statement.

      The coming changes, Suri added, “will be as profound as the creation of the Internet.” With its three businesses, he added, Nokia is “well-placed to meet our goal to be a leader in the technologies for a world where everybody and everything is connected.”

      The same day as Suri’s appointment, Nokia announced the results of its fiscal 2014 first quarter. Excluding its business with Microsoft, revenue was down, but posted a profit of $150 million, compared with a loss of $135.9 million a year ago. It also announced a buyback plan that will return approximately $4.1 billion to shareholders, while Suri streamlines the business and gets it efficiently working as a whole.

      In a video on the Nokia site, Suri told investors, “The opportunities ahead of us are as great as I have ever seen.”

      Follow Michelle Maisto on Twitter.

      Michelle Maisto
      Michelle Maisto has been covering the enterprise mobility space for a decade, beginning with Knowledge Management, Field Force Automation and eCRM, and most recently as the editor-in-chief of Mobile Enterprise magazine. She earned an MFA in nonfiction writing from Columbia University, and in her spare time obsesses about food. Her first book, The Gastronomy of Marriage, if forthcoming from Random House in September 2009.
      Get the Free Newsletter!
      Subscribe to Daily Tech Insider for top news, trends & analysis
      This email address is invalid.
      Get the Free Newsletter!
      Subscribe to Daily Tech Insider for top news, trends & analysis
      This email address is invalid.

      MOST POPULAR ARTICLES

      Latest News

      Zeus Kerravala on Networking: Multicloud, 5G, and...

      James Maguire - December 16, 2022 0
      I spoke with Zeus Kerravala, industry analyst at ZK Research, about the rapid changes in enterprise networking, as tech advances and digital transformation prompt...
      Read more
      Applications

      Datadog President Amit Agarwal on Trends in...

      James Maguire - November 11, 2022 0
      I spoke with Amit Agarwal, President of Datadog, about infrastructure observability, from current trends to key challenges to the future of this rapidly growing...
      Read more
      Cloud

      IGEL CEO Jed Ayres on Edge and...

      James Maguire - June 14, 2022 0
      I spoke with Jed Ayres, CEO of IGEL, about the endpoint sector, and an open source OS for the cloud; we also spoke about...
      Read more
      Applications

      Kyndryl’s Nicolas Sekkaki on Handling AI and...

      James Maguire - November 9, 2022 0
      I spoke with Nicolas Sekkaki, Group Practice Leader for Applications, Data and AI at Kyndryl, about how companies can boost both their AI and...
      Read more
      IT Management

      Intuit’s Nhung Ho on AI for the...

      James Maguire - May 13, 2022 0
      I spoke with Nhung Ho, Vice President of AI at Intuit, about adoption of AI in the small and medium-sized business market, and how...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2022 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×