Nokia Aims For Cloud-based Software Subscription Service

Nokia Oyj NOK aims to launch a cloud-based software subscription service targeting telecom companies for providing software around analytics, security, and data management.
Nokia will offer some of its software portfolios under subscription from 2021, and more will be commercially available in early 2022.
A cloud-based software platform can cut costs, make it convenient to deploy and manage, and customers can try the platform before committing for long-term use.
Nokia, which has been in discussions with potential customers, targets an addressable market of $3.1 billion for the 2021-2025 period, with an annual growth rate of about 25%-30%.
Price Action: NOK shares traded higher by 0.36% at $5.61 in the premarket session on the last check Wednesday.