Nokia, a Finnish multinational telecommunications company, has undergone significant changes in recent years to reshape its company strategy and brand. Nokia’s renewed operating model is designed to enable the delivery of its strategic ambitions. The model involves a lean corporate center that enables fully accountable business groups, with each group aiming to become a technology and market leader in its respective sector. Nokia’s four business groups are Mobile Networks, IP and Fixed Networks, Cloud and Network Services, and Nokia Technologies.
Nokia is focusing on smart homes and connected devices in response to the increasing demand for connected devices and the growth of the Internet of Things (IoT) market. Nokia aims to leverage its existing technology and expertise to drive growth and innovation in these areas. Nokia faced challenges with its previous Symbian platform, leading to a decline in market share and a loss of its position as a dominant player in the mobile phone industry. Nokia has since shifted its focus to new technologies and platforms, such as its partnership with Microsoft to develop Windows Phone and its current focus on 5G technology. Nokia’s aim is to adapt to changing market demands and leverage its existing technology and expertise to drive growth and innovation.