Every year, Fortune makes a list of 500 biggest Companies in the USA and the world based on revenue. We reported last year at approximately the same time that the Finnish telecomunications giant Nokia made its way on the list – first time since selling the D&S Business to Microsoft.
This year, with a revenue of 26 billion dollars (and loss of 1.6 billion dollars) in 2017, Nokia ranked 457, which represents a drop of 42 places compared to previous year. If the negative trend continues, Nokia could drop off the list in the near future (maybe even next year). We know the 5G upgrade cycle is starting soon, so the financial results should improve. Nokia’s European competitor Ericsson ranked 500th, while Huawei, operating beyond networks unlike Nokia and Ericsson, is No. 72 on the list.
It’s also interesting that the photo representing Nokia on the Fortune Global 500 list is of the Nokia 8110 4G, which again shows that Nokia is still more perceived as a “phone manufacturer” (thanks to HMD), then a networks gear and solutions provider. The Nokia brand is worth more than most people (including Nokia’s leadership based on their business moves) think and not utilizing the potential the brand has in consumer market is in my opinion a missed opportunity for the company.
Source: Fortune Global 500