Essay on Nokia Analysis

Words: 6428
Pages: 26

Introduction: "Nokia - Connecting People": this slogan is known all over the world. In 2006 Nokia employs 68,041 people in 120 countries. Currently every third mobile phone sold in the world is from Nokia. The Nokia Company is today one of the world's leading high tech companies. Its rapidly growth in the 1990s coincided with a basal structural change of the Finnish economy and industry. In this restructuring process Nokia played an important role. Despite the fact that Nokia is a leading multinational company, a major part of its business is located in Finland. Nokia plays a significant role in the economic growth of Finland, which has been one of the fastest growing in whole Europe.

I. History of Nokia The Nokia story
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With that said, the company holds current about thirty percent of the telecommunications market share worldwide, this being much larger than that of Motorola or Ericsson. (Nokia - a big company in a small country (2001)). Based upon 2005 figures from the 2005 calendar year, the combined company had EUR $15.8 billion in pro forma annual revenues and had started their operations with about 60,000 employees worldwide. Although as of January 2007 Nokia was been able to open up an additional 40,000 jobs to new employees. This making a grand total of 100,000 employees worldwide. Also recently Nokia's CEO Jorma Ollila had announced that he would step down from his post in June of 2006. This had then by default made the new CEO of Nokia Olli-Pekka Kallasvuo. Who had previously headed the mobile phone unit. (Nokia CEO Jorma Ollila announces retirement (2005, August 1)). Also recently Timo Ihamuotila, age 40, had been appointed as a member of the Nokia Group Executive Board as of April 1, 2007. (Timo Ihamuotila Appointed to the Nokia Group Executive Board. (2007, March 29)). With Kallasvuo as the new CEO, a few different people report to him now. Such as Robert Andersson who is the Divisional Executive Vice President, also Simon Beresford-Wylie who is the Executive Vice President/General Manager and Pertti Korhonen who is an Executive Vice President/Chief Technology Officer. There are a few other people that report to CEO, but these are the main people. (Executives at