Following the completion of the sale of its Devices & Services business to Microsoft, Nokia unveiled its new corporate strategy and named Rajeev Suri as President and CEO.
Nokia's overall vision is to leverage its three strong businesses in networks, location and technologies to be a leader in technologies important in a connected world.
- Through its Networks business (formerly Nokia Solutions and Networks, or NSN), Nokia will invest in the innovative products and services needed by telecoms operators to manage the increase in wireless data traffic which is more than doubling every year.
- Through its HERE business, Nokia will invest to further develop its location cloud to make it the leading source of location intelligence and experiences across many different operating systems, platforms and screens. Three target areas: 1) technology for smart, connected cars; 2) cloud-based services for personal mobility and location intelligence, including for the growing segment of wearables and special purpose devices; and 3) location-based analytics for better business decisions.
- Through its Technologies business, Nokia will invest in the further development of its industry-leading innovation portfolio. This will include 1) expanding the company's intellectual property licensing program; 2) helping other companies and organizations benefit from breakthrough innovations through technology licensing; and 3) exploring new technologies for use in potential future products and services.
"As Nokia opens this new chapter, the Nokia Board and I are confident that Rajeev is the right person to lead the company forward," said Risto Siilasmaa, Chairman of the Nokia Board of Directors. "He has a proven ability to create strategic clarity, drive innovation and growth, ensure disciplined execution, and deliver results. We believe that his passion for technology will help ensure that Nokia continues to deliver innovations that have a positive impact on people's lives."
Suri joined Nokia in 1995 and has held a wide range of leadership positions in the company. Since October of 2009, he has served as CEO of NSN. Risto Siilasmaa, who has also been serving as an interim CEO of Nokia, will return to focusing exclusively on his role as Chairman of Nokia's Board of Directors as of May 1, 2014.
Nokia also announced its dividend schedule for distributing capital from the Microsoft deal to its shareholders.