Nokia corporation.

Nokia corporation.

President - Stephen Elop, who replaced Olli-Pekka Kallasvuo, 21 September 2010

The company got its name from the name of the river (Nokianvirta), where Fredrik Idestam built in 1868 in his second paper mill. Nokia Ab company name was given in 1871

Another thing is that the name of the river, believed to be derived from the ancient Finnish word nois (pl. nokia), indicated by a black sable, which once calculation was done in those places. When sable disappeared, the word came to mean any animal with black fur, such as mink or marten.

Nokia Oyj is a Finnish multinational communications and information technology corporation headquartered in Keilaniemi, Espoo, Finland. Its principal products are mobile telephones and portable IT devices. It also offers Internet services including applications, games, music, media and messaging  through its Ovi platform, and free-of-charge digital map information and navigation services through its wholly owned subsidiary Navteq.Nokia has a joint venture with Siemens, Nokia Siemens Networks, which provides telecommunications network equipment and services. Nokia has around 122,000 employees across 120 countries, sales in more than 150 countries and annual revenues of around €38 billion.[1] As of 2012 it is the world's second-largest mobile phone maker by unit sales (after Samsung), with a global market share of 22.5% in the first quarter. Nokia is a public limited-liability company listed on the Helsinki Stock Exchange and New York Stock Exchange. It is the world's 143rd-largest company measured by 2011 revenues according to the Fortune Global 500.

Nokia was the world's largest vendor of mobile phones from 1998 to 2012. However, over the past five years it has suffered declining market share as a result of the growing use of smartphones from other vendors, principally the Apple iPhone and devices running on Google's Android operating system. As a result, its share price has fallen from a high of US$40 in 2007 to under US$3 in 2012. Since February 2011, Nokia has had a strategic partnership with Microsoft, as part of which all Nokia smartphones will incorporate Microsoft's Windows Phone operating system (replacing Symbian). Nokia unveiled its first Windows Phone handsets, the Lumia 710 and 800, in October 2011.

Financial results

For fiscal Q2 2011 ending in June 2011, Nokia reported a net loss of €492 million, despite a €430 million payment from Apple. Nokia cited decline in its mobile phone business as the primary cause of the loss.

In Q1 2012 results were bleak. Nokia lost €1.34 billion. Revenue is down almost a third from a year ago.nBy May 2012, Nokia share price had fallen 37.5 percent since the beginning of the year, and was down 61 percent in the last year.

Corporate culture

Nokia's official corporate culture manifesto, The Nokia Way, emphasises the speed and flexibility of decision-making in a flat, networked organization, although the corporation's size necessarily imposes a certain amount of bureaucracy.

The official business language of Nokia is English. All documentation is written in English, and is used in official intra-company spoken communication and e-mail.

Until May 2007, the Nokia Values were Customer Satisfaction, Respect, Achievement, and Renewal. In May 2007, Nokia redefined its values after initiating a series of discussions worldwide as to what the new values of the company should be. Based on the employee suggestions, the new values were defined as: Engaging You, Achieving Together, Passion for Innovation and Very Human.