Finland acquires 3.3% stake in Nokia, but it's not about phones
by Victor Hristov / Mar 13, 2018, 6:41 AM
Finland is buying 3.3% of Nokia at a cost of more than $1.04 billion (844 million euros) to increase the Finnish influence over the company that is now focused on the telecoms market. The Finnish Government used its investment arm Solidium to go carry out the deal.
“We believe that this will be a good investment. One must remember that Nokia is Finland’s largest company and its Finnish ownership has been rather thin,” Solidium CEO Antti Makinen told Reuters.
Does this mean that Finland is trying to regain its dominance in phones from the recent past?
Not at all. Nokia phones currently are made by a company named HMD Global and this deal has nothing to do with that company or the phone business. In fact, the Nokia company of today is centered around cellular network gear and things like the upcoming 5G roll-out, but not in phones. It's important to make this distinction between the Nokia company and the Nokia brand of phones, the latter owned by a totally separate company.
Posts: 21768; Member since: May 28, 2014
Nokia is into more than just phones, as I’m sure some people are just finding out. Always a good thing to not have all of your eggs in one basket. With Nokia having its roots in Finland, I’m surprised the Finnish government hasn’t made this move to acquire a larger stake in Nokia sooner.
posted on Mar 13, 2018, 9:12 AM 1
Posts: 2350; Member since: Aug 01, 2015
I bet if you said that Nokia even made car tires, 90% of the users here wouldn't believe you. Nor would they bother to do any research on the matter before typing.
posted on Mar 13, 2018, 9:19 AM 1
Posts: 395; Member since: Oct 13, 2015
It is about time until Nokia acquires HMD Global. HMD Global is a temporary name that will widespread Nokia phones brand to the general public.
posted on Mar 13, 2018, 10:53 AM 0
Posts: 1499; Member since: Mar 16, 2017
Nokia are actually banned from making or selling phones under the agreement of the Microsoft acquisition, hence the licencing of the Nokia brand name to HMD.
posted on Mar 13, 2018, 6:58 PM 0
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