From its origins as a wood-pulp mill in southern Finland, to rubber boot manufacturer and now the world’s leading phone brand, Nokia has come a long way.
October 13, 2008 6:22 by kippreport
In 1962 Onni Nurmi, a reclusive bachelor from the village of Pukkila lies, a farming to the northeast of Helsinki, died leaving a few hundred shares in Nokia, then a small company that produced rubber boots. His sole stipulation was that the shares were never to be sold and that the dividends were to be used “for the recreation of the people” living in the village’s modest nursing home. His bequest was executed and the sluggish pace of life in Pukkila continued uninterrupted for the next 30 years. Then, in 1992, the value of the Nokia shares skyrocketed, becoming worth tens of millions of dollars overnight. The Finnish economy has much to thank Nokia for: The company employs nearly 24,000 people in the country, sends many more Finns out to manage its overseas offices and single-handedly pulled Finland out of the recession of the early 1990s. It is estimated 37 of the 50 wealthiest Finns owe their fortunes to Nokia.
HSBC Q1 profit falls 14 per cent as market remains uncertain
UAE non-oil business slows in April as employment stalls
UAE – Jersey trade relations: from a tax haven to taxonomy
No fines for negative comments on economy, Dubai confirms
UAE and Azerbaijan discuss economic, trade ties