Finland acquires 3.3% stake in Nokia, but it's not about phones

Finland acquires 3.3% stake in Nokia, but it's not about phones
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.

source: Reuters

FEATURED VIDEO

10 Comments

1. antroid

Posts: 392; Member since: Jan 24, 2018

It's too confusing when you have a few companies with the same name.

3. SIGPRO

Posts: 2817; Member since: Oct 03, 2012

Nokia is huge, they have 102.000 employees. Many people think Nokia is only about phones......wile they do a lot more!

5. meanestgenius

Posts: 22217; 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.

6. Subie

Posts: 2383; 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.

8. meanestgenius

Posts: 22217; Member since: May 28, 2014

Totally true, Subie. People are just content to remain unaware, as opposed to doing research to broaden their own horizons. Ignorance truly is bliss.

7. Rafishant

Posts: 398; 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.

9. mootu

Posts: 1527; 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.

10. meanestgenius

Posts: 22217; Member since: May 28, 2014

That is no longer a thing. It wasn’t a “ban”, it was a deal put in place when Elop ran Nokia.

11. johnh3

Posts: 144; Member since: Aug 23, 2012

The restriction or ban was only 3 years. So that deal is now expired.

12. johnh3

Posts: 144; Member since: Aug 23, 2012

Microsoft also owned the whole Nokia feature phone business. But they let it go back to the real Nokia to.

Latest Stories

This copy is for your personal, non-commercial use only. You can order presentation-ready copies for distribution to your colleagues, clients or customers at https://www.parsintl.com/phonearena or use the Reprints & Permissions tool that appears at the bottom of each web page. Visit https://www.parsintl.com/ for samples and additional information.