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Nokia Announces About Acquiring SpaceTime InSight

Nokia has made several small to medium-sized acquisitions as part of a strategy to build up a standalone software business to deliver higher profit margins than its classic communications hardware products.

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Nokia has made several small to medium-sized acquisitions as part of a strategy to build up a standalone software business to deliver higher profit margins than its classic communications hardware products.
Headquarters of Nokia. Wikimdedia Commons

Nokia said on Monday it has acquired software maker SpaceTime Insight, which industrial customers use to manage millions of devices and assets across their networks, marking the equipment supplier’s latest push to expand beyond telecoms.

Terms of the deal were not disclosed.

SpaceTime supplies monitoring and analytics applications to customers in the energy, logistics, transportation and utilities sectors to run operations more cost effectively by reducing service outages and the need to send out repair trucks.

Among the more than two dozen major customers of SpaceTime, a decade-old Silicon Valley-based company, are FedEx, No. 2 U.S. rail operator Union Pacific, U.S. electric utilities Entergy and NextEra Energy and Singapore Power, Nokia said.

SpaceTime Insight and Rob Schilling, its chief executive, will join the Internet of Things (IoT) product unit within the Nokia Software business group. The company has raised around $50 million in private funding, according to Crunchbase data.

Nokia has made several small to medium-sized acquisitions as part of a strategy to build up a standalone software business to deliver higher profit margins than its classic communications hardware products.
Software Matrix, Pixabay

Nokia has made several small to medium-sized acquisitions as part of a strategy to build up a standalone software business to deliver higher profit margins than its classic communications hardware products.

“Traditionally, most networking companies built software to sell more networking equipment,” Nokia Software President Bhaskar Gorti said in a phone interview. “This is an expansion into the B2B side of the industry,” he said of sales beyond its core telecom markets to internet and industrial customers.

Only around 20 percent of its sales are tied to Nokia telecom equipment, Gorti said, with the remaining 80 percent sold on a standalone basis, both to network operators using rival equipment or, increasingly, to non-telecom customers.

Nokia Software generated just over 1.6 billion euros in revenue in 2017. Three months ago, Nokia renamed the group, previously known as Applications & Analytics, to reflect its growing importance alongside its mainstay network gear business.

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A year ago, it paid around $370 million to buy Comptel, beefing up its business aimed at telecom network operators.

Nokia ranked No. 2 among telecom software suppliers with a 10 percent share of the highly fragmented market, according to 2016 data from industry research group Analysys Mason.

Huawei held 11 percent, Ericsson 9 percent and Amdocs and Oracle, each held 8 percent. (IANS)

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Nokia to Launch Affordable 5G Phone in 2020

In India, 5G services are expected to begin next year and the 5G Nokia phone is likely to come to the Indian market in 2020

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Nokia has made several small to medium-sized acquisitions as part of a strategy to build up a standalone software business to deliver higher profit margins than its classic communications hardware products.
Headquarters of Nokia. Wikimdedia Commons

HMD Global, that makes and sells Nokia-branded phones, has confirmed that an affordable Nokia 5G phone that would cost around half of the existing ones would arrive next year in the US.

“We see a particular opportunity for us in bringing 5G to a more affordable segment as we enter the market,” HMD Global Chief Product Officer Juho Sarvikas said.

“I would say affordable in relation to what’s available today. I would love to see us at half of the price where you have 5G today,” he added.

5G
FILE – People stand next to a 5G logo during the Mobile World Congress wireless show, in Barcelona, Spain, Feb. 28, 2018. VOA

HMD Global is expected to launch two Nokia 5G smartphones this year, news portal GizmoChina reported on Thursday.

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One of the smartphones would be a flagship with Snapdragon 855 SoC, paired with the X55 modem to enable 5G connectivity. The other device is said to be more mid-ranged and powered by a Snapdragon 700 series chipset.

In India, 5G services are expected to begin next year and the 5G Nokia phone is likely to come to the Indian market in 2020. (IANS)