Nokia Strategy

Nokia posts stronger H2 after Q1 comparable profit grows less than expected

CEO Pekka Lundmark said an improvement in order intake seen late last year continued in the first quarter despite a persistent challenging business environment

Updated On : 18 Apr 2024 | 1:52 PM IST

BSNL likely to award Rs 1,000 crore 3-yr OTN equipment contract to Nokia

Other companies that have applied for the BSNL contract include domestic vendors like United Telecoms (UTL), and Tata Group company, Tejas Networks

Updated On : 14 Nov 2023 | 2:31 PM IST

HMD Global expects 25-30% sales growth in Nokia phones with Easy Pay launch

Nokia brand mobile device maker HMD Global expects a 25-30 per cent increase in sales in handsets on the back of the introduction of Easy Pay finance option for customers, a senior company official said on Wednesday. HMD Global has partnered with DMI Finance to provide finance for Nokia brand mobile devices across 4,000 retail outlets spread across the country. "With Easy Pay in place, we expect 25-30 per cent sales growth on a year-on-year basis. Even between quarter three (October-December) versus quarter two (July-September), we expect 25-30 per cent growth," HMD Global, VP-India and APAC, Ravi Kunwar said. He said that the company's Nokia G 42 5G phones were launched recently at a starting price of Rs 11,999 apiece and have run out of stock which reflects the demand for HMD devices. "India is leading in terms of 5G adoption globally and if a product like G42 is being loved and adopted at such a fast pace then it means we are on the right track, our values and strategies are rig

Updated On : 25 Oct 2023 | 8:45 PM IST

Nokia to cut 14,000 jobs to lower costs amid weak demand in US, Europe

Nokia also posted weaker-than-expected earnings on Thursday in a separate statement

Updated On : 19 Oct 2023 | 11:21 AM IST

Nokia achieves 7 mn telecom gear production milestone at Chennai plant

Finnish telecom company Nokia on Thursday said its Chennai plant has achieved the production milestone of 7 million telecom network gear units. The company started the plant 15 years ago and is one of the largest factories of Nokia globally. "Nokia's factory in Chennai has reached a significant production milestone by reaching seven million telecom units. The factory has completed fifteen years of operation this year and is playing a key role in boosting telecom equipment manufacturing in the country," Nokia said. The factory manufactures 5G New Radio (5G NR), 5G massive MIMO products, 4G or the LTE radios as well as fiber broadband equipment among others. Nokia exports approximately 50 per cent of the production. "Further, it (Nokia) has progressively increased the localization of components by up to 2 times compared to previous years in 5G equipment manufacturing," the statement said. The company had announced the start of manufacturing 5G telecom gears in India even before the

Updated On : 12 Oct 2023 | 5:22 PM IST

India among top 3 nations with highest 5G network rollout: Nokia CEO

The 5G network rollout in India has been remarkable and the country is among the top three nations with the largest 5G installed base in the world, a top Nokia official said on Thursday. Nokia President and CEO Pekka Lundmark was addressing an event during the inauguration of the company's 6G research lab in Bengaluru. "5G rollout in India is truly remarkable. This has been one of the fastest telecom network roll-outs ever and means India is now among the top three countries in the world that have the largest 5G installed base, with 5G download speeds beating those found in many advanced markets," Lundmark said. While there has been a decline in telecom gear shipment across major geographies, the 5G rollout in India has been able to offset a dip in the business of Ericsson and Nokia. Nokia posted 333 per cent growth in India sales at about Rs 9,500 crore in the June quarter of 2023. Ericsson reported 74 per cent growth in net sales in the June 2023 quarter in "South East Asia, Oce