- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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