In 2023, Nokia generated 19.22 billion euros in net sales, a decrease on the 22.26 billion generated the previous year. Nokia's history Founded in 1865, Nokia is a Finnish communications and information technology company. Over the years, Nokia has ventured into different markets: Nokia emerged as a global leader in the mobile market in the early days of the mobile and smartphone era. The company also played a key role in the development of GSM (Global System for Mobile Communications) in the late 1980s and early 1990s. Nokia was once the leading mobile phone vendor. However, due to slow adaptation to newer smartphone technologies, Nokia gradually lost its market-leading position to rivals like Samsung and Apple and its mobile business began to lose money. Nokia’s business evolution After the sale of its mobile devices division, Nokia focused on the data networking services and telecommunications equipment business through its subsidiary Nokia Networks. As of 2020, Nokia's Networks Business is the most revenue-generating business segment of Nokia. The company has also been involved in cloud computing and mapping applications. As one of the leading telecom infrastructure companies, Nokia faces competition from Huawei, Cisco, Ericsson, and Qualcomm.

Nokia generated **** billion euros in revenue in Europe in 2024, up from **** billion the previous year. Europe was the only region in which the company reported increased revenue. Nokia overview Nokia is a Finnish communications and information technology company. Founded in 1865, the company is headquartered in Espoo and currently employs more than ****** people. Nokia emerged as a global leader in the mobile market in the early days of the mobile and smartphone era. After the sale of its mobile devices division in 2013, Nokia has focused on data networking services and telecommunications equipment. Nokia’s competitors As of 2021, Nokia is one of the leading telecom infrastructure companies. Nokia’s main competitors in this market are Huawei, Cisco, Ericsson, and Qualcomm. Huawei and Ericsson are also Nokia’s main competitors in the service provider network infrastructure market, with the company ranking second with around ** percent control of the market. Nokia also competes with these firms across several other key technologies including 5G and extended reality (XR).