Nokia chairman and interim CEO Risto Siilasma has outlined his vision for the company's future, following the sale of Nokia's mobile phone business to Microsoft.
The agreement will see 32,000 of Nokia's 88,000 employees and less than half of its trailing 12-month revenues move to Microsoft.
"This is truly a transformational change for Nokia," said Siilasma on the Nokia Blog.
“Nokia will look very different without the mobile devices and services business. But it will be a strong company, with healthy finances and three strong businesses – NSN, HERE, and Advanced Technologies – each a leader in technology and innovation.
NSN is Nokia's networks/mobile broadband business, which supplies tech and infrastructure to operators worldwide. Here it will "continue to launch uniquely innovative solutions such as the Liquid Applications that was announced in Barcelona earlier this year.”
HERE is Nokia's cloud business that runs across connected devices, enterprise solutions and car, which is looking to extend its coverage further.
And Advanced Technologies is a new business that's being formed.
“We will form a new business, Advanced Technologies, building on most of the activities from the current CTO unit and the IP business team, while exploring new, strategically important topics," said Siilasma.
“Our CTO organization has a strong track record in innovations that continue to shape the industry. In recent years, these have included the leading technologies for video and audio encoding, including H.264 and HD voice; low-power connectivity technologies such as Bluetooth LE (low energy) and imaging technologies which are now powering augmented reality apps such as HERE Live Sight.
He added: “During the coming months, my main focus will be on clarifying our strategy, designing the right corporate structure to achieve the targets we set, and together with my colleagues on the Nokia board, we will focus on identifying the right person who will be the CEO of Nokia going forward.
“I believe this is the beginning of the next 150 years of Nokia’s story.”