Nokia net sales worldwide 2012-2023, by region

Nokia generated 5.87 billion euros in revenue in Europe in 2023, down from 6.66 billion the previous year. The Middle East and Africa region was the only region in which the company reported increased revenue, with 2.05 billion euros generated.

Nokia overview

Nokia is a Finnish communications and information technology company. Founded in 1865, the company is headquartered in Espoo and currently employs more than 92,000 people. Nokia emerged as a global leader in the mobile market in the early days of the mobile and smartphone era. After the sale of its mobile devices division in 2013, Nokia has focused on data networking services and telecommunications equipment.

Nokia’s competitors

As of 2021, Nokia is one of the leading telecom infrastructure companies. Nokia’s main competitors in this market are Huawei, Cisco, Ericsson, and Qualcomm. Huawei and Ericsson are also Nokia’s main competitors in the service provider network infrastructure market, with the company ranking second with around 16 percent control of the market. Nokia also competes with these firms across several other key technologies including 5G and extended reality (XR).