Our story

Few companies have Nokias storied capacity for transforming, developing

new technologies and adapting to shifts in market conditions.
From its beginning in 1865 as a single paper mill operation, Nokia has
found and nurtured success in several sectors over the years, including
cable, mobile devices, paper products, rubber boots and tires, and
telecommunications infrastructure equipment.
Nokias sector-by-sector success over the years has mirrored its
geographical rise: from a Finnish-focused company until the 1980s with a
growing Nordic and European presence; to a bona fide European company
in the early 1990s; and onto a truly global company from the mid-1990s
onward. With the acquisition of Alcatel-Lucent in 2016, we further deepen
and widen our global reach.
Nokia has been producing telecommunications equipment since the 1880s
almost since telephony began.

A storied past
When Finnish Engineer Fredrik Idestam set up his initial wood pulp mill in
Southern Finland in 1865, he took the first step in laying the foundation of
Nokias capacity for innovating and finding opportunity. Sensing growing
pulp product demand, Idestam opened a second mill a short time later on
the Nokianvirta River, inspiring him to name his company Nokia AB.
Idestams sense of endeavor would continue to prevail in the different
phases Nokia would take.
In the 1960s, Nokia became a conglomerate, comprised of rubber, cable,
forestry, electronics and power generation businesses resulting from a
merger of Idestams Nokia AB, and Finnish Cable Works Ltd, a phone and
power cable producer founded in 1912, and other businesses.

Transformation anew
It wasnt long before transformation would call again.
Deregulation of the European telecommunications industries in the 1980s
triggered new thinking and fresh business models.
In 1982, Nokia introduced both the first fully-digital local telephone
exchange in Europe and the worlds first car phone for the Nordic Mobile
Telephone analog standard. The breakthrough of GSM (global system for
mobile communications) in the 1980s introduced more efficient use of radio
frequencies and higher-quality sound. The first GSM call was made with a
Nokia phone over the Nokia-built network of a Finnish operator called
Radiolinja in 1991.
It was around this time that Nokia made the strategic decision to make
telecommunications and mobile our core business. Our other businesses,
including aluminum, cable, chemicals, paper, rubber, power plant, and
television businesses were divested.
By 1998, Nokia was the world leader in mobile phones, a position it
enjoyed for more than a decade.
And still, the business and technology worlds would continue to evolve, as
would Nokia.

A shifting industry
In 2007, Nokia combined its telecoms infrastructure operations with those
of Siemens to create the Nokia Siemens Network joint venture. We later
bought Siemens stake in NSN in 2013 as the business was emerging from
a successful strategy shift and the reality of what Nokia calls a
Programmable World of connected devices, sensors and people was
starting to take shape.
In 2011, we joined forces with Microsoft to strengthen our position in the
highly competitive smartphone market. Three years later, we accepted

Microsofts offer to buy most of Devices & Services, with the deal closing in
April 2014. Nokia emerged from the transaction with a firm financial footing
and three strong businesses Nokia Networks, HERE maps and Nokia
Technologies focused on connecting the things and people of the
Programmable World.
Nokias transformation was not done. The HERE digital mapping and
location services business, an arena we entered in 2006, was a key pillar of
Nokias operational performance. But in 2015, the Nokia Board held a
strategic review of the business in light of plans to purchase Alcatel-Lucent.
The result was a sale of HERE to a car company consortium in a deal that
closed in December 2015.

Alcatel-Lucent and beyond

The acquisition of Alcatel-Lucent positions Nokia as an innovation leader in
next-generation technology and services.
Our reputation as an innovation powerhouse has been bolstered by the
addition of Bell Labs. It joins a future-focused business backed by
thousands of patent families, a reflection of Nokias innovation pedigree
which has produced a huge array of benefits for consumers, business and
society as a whole.
The acquisition helps us shape the connectivity and digitalization revolution
before us the Programmable World in which many billions of people,
devices, and sensors are connected in a way that opens up a world of
possibilities. These can make our planet safer, cleaner, healthier, more
sustainable, more efficient and more productive.
Nokias long history is marked by change and reinvention. Weve always
been excited by where technology will lead us as we seek to expand the
human possibilities of a connected world. We will continue to innovate,
reimagining how technology works for us discreetly while blending into, and
enriching, our daily lives.

Meet the Board

Chairman Risto Siilasmaa

b. 1966
Chairman of the Board of Directors of Nokia Corporation. Board member
since 2008. Chairman since 2012. Chairman of the Corporate Governance
and Nomination Committee.
Master of Science (Eng.), Helsinki University of Technology.
President and CEO of F-Secure Corporation 1988-2006.
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Vice Chairman Olivier Piou

b. 1958
Chief Executive Officer of Gemalto N.V.
Vice Chairman of the Board of Directors of Nokia Corporation. Board
member and Vice Chairman since 2016. Member of the Personnel
Committee and the Corporate Governance and Nomination Committee.
Degree in Engineering, cole Centrale de Lyon.
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Vivek Badrinath

b. 1969
Deputy Chief Executive Officer, Accor Group.
Member of the Board of Directors of Nokia Corporation since 2014.
Member of the Audit Committee.
cole Polytechnique and ENST.
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Bruce Brown

b. 1958
Independent Director.
Member of the Board of Directors of Nokia Corporation since 2012.
Chairman of the Personnel Committee. Member of the Corporate
Governance & Nomination Committee.
M.B.A. (Marketing and Finance), Xavier University. B.S. (Chemical
Engineering), Polytechnic Institute of New York University.
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Louis R. Hughes

b. 1949
Independent Director.
Member of the Board of Directors of Nokia Corporation since 2016.
Member of the Audit Committee.
Masters Degree in Business Administration, Harvard University, Graduate
School of Business. Bachelor of Mechanical Engineering, General Motors
Institute, now Kettering University.
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Simon Jiang

b. 1953
Founder and Chairman of CyberCity International Limited (CCI).
Member of the Board of Directors of Nokia Corporation since 2015.
Member of the Personnel Committee.

B.A., Beijing Foreign Studies University. M.A., Australian National

University. MPhil and PhD (Economics), University of Cambridge.
Chairman of Vision Century Corporation Ltd 2002-2008. Founder of
CyberCity Group of Companies 1997-2002. Deputy Chief and Fund
Manager of United Nations Joint Staff Pension Fund 1992-1997.
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Jouko Karvinen

b. 1957
Independent Director.
Member of the Board of Directors of Nokia Corporation since 2011.
Chairman of the Audit Committee. Member of the Corporate Governance
and Nomination Committee.
Master of Science (Eng.), Tampere University of Technology.
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Elizabeth Nelson

b. 1960
Independent Director.
Member of the Board of Directors of Nokia Corporation since 2012.
Member of the Audit Committee.
M.B.A. (Finance), The Wharton School, University of Pennsylvania. B.S.
(Foreign Service), Georgetown University.
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Jean C. Monty

b. 1947
Independent Director.
Member of the Board of Directors of Nokia Corporation since 2016.
Member of the Audit Committee.
Bachelor of Arts, Collge Sainte-Marie of Montral. Master of Arts in
Economics, University of Western Ontario. Master of Business
Administration, University of Chicago.
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Kari Stadigh

b. 1955
Group CEO and President of Sampo plc.
Member of the Board of Directors of Nokia Corporation since 2011.
Member of the Personnel Committee. Member of the Corporate
Governance and Nomination Committee.

Master of Science (Eng.), Helsinki University of Technology. Bachelor of

Business Administration, Swedish School of Economics and Business
Administration, Helsinki.
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