Nokia Corporate Entrepreneurship

Tutorial 1

Nokia

Nokia, a global and well-known brand particularly in the mobile phone industry, and was recognized as the mobile giant during its prime. Today, Nokia is a leader in the fields of network infrastructure, Nokia Networks; Here, the location-based technologies; and Nokia technologies, the advanced technologies which focused on technology development and intellectual property rights activities. Around 57,000 people are employed by Nokia with these businesses held.

Nokia was founded during year 1865 by Fredrik Idestam and Leo Mechelin. The global headquarters of Nokia is located at Espoo, which is at Finland. Nokia’s original line of business is very different with the technology businesses they conduct now. Nokia is founded as a wood-pulp mill, which manufactures paper in southern Finland by engineer Fredrik Idestam. Then, Nokia move into new line of business during year 1898 and 1912, which is rubber business and cable business. In year 1960, Nokia has established the first electronics department to concentrate on the production of radio-transmission equipment. Then, Nokia created a radio telephone company, Mobira Oy as a joint venture with Finnish television Salora. During year 1982, the first fully digital local telephone exchange is introduced in Europe, and in the same year, the first car phone for the Nordic Mobile Telephone analogue standard was introduced.

In year 1990, a strategic decision has been made by Nokia that telecommunications is their core business. In the following year, Nokia equipment is used to make the world’s first GSM call and it also success to maintain its place as the mobile giant for many years. However, Nokia started to fell behind as Apple released iPhone in year 2007 and also the arrival of smartphones running with Google Android in year 2008. To compete with Apple and Google’s Android platform, Nokia announced a strategic partnerships with Microsoft in year 2011. However, the strategic took by Nokia did not work and the shares and profit continue to fall. In 2013, Nokia Corporation announced that it has signed an agreement to enter into a transaction whereby Nokia will sell substantially all of its Devices & Services business and licence its patents to Microsoft.