Nokia Corporation
Stock Exchange Release
November 15, 2016 at 09:00 (CET +1)
Higher returns through focused growth: Nokia sets key financial and strategic targets at Capital Markets Day 2016
Barcelona, Spain - Nokia today outlined its vision and strategic priorities for ensuring sustainable growth in its core businesses and tapping new opportunities in fast-growing markets. The company also set key financial targets that underscore its ambition to lead in a connected world following three years of fundamental transformation.
President and CEO Rajeev Suri said at the companys Capital Markets Day event in Barcelona that the pace of change at Nokia has accelerated since the last investor event in 2014, with the company now bigger, stronger and more agile, bolstered especially by the acquisition of Alcatel-Lucent.
Nokia is extremely well-positioned to win in its primary market with communication service providers, and we aim to target superior returns through focused growth into more attractive adjacent markets where high-performance, end-to-end networks are increasingly in demand, Suri said.
We also see opportunities to renew current patent licensing agreements at favorable terms, add new licensees in the mobile phone area and expand licensing further into new areas such as consumer electronics and the automotive sector. Given the appeal to others of our innovations in Networks, virtual reality and digital health, we are confident that we can continue to build our patent and technology licensing business further in the coming years, he continued.
Simultaneously, we will remain focused on flawlessly executing our EUR 1.2 billion cost saving program.
Nokias new strategy builds upon its enhanced business portfolio following the Alcatel-Lucent acquisition, and focuses on four key priority areas:
Lead in high-performance, end-to-end networks with communication service providers: Use our unparalleled, end-to-end portfolio to sustain our market and profitability leadership.
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Nokia Corporation
