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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.
Headquarter 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.

Also Read: WhatsApp and Android Devices Crashed Due to a New Message Bug 

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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WhatsApp Now Available on Nokia’s Banana Feature Phone

The feature phone was first announced in February 2018 at the Mobile World Congress (MWC) held in Barcelona

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Nokia
Nokia to cut jobs, says slow 5G progress not cause for layoffs.

After arriving on Reliance JioPhones in September 2018, messaging app WhatsApp is now available on Nokia’s ‘8110’ with India becoming the first market to receive the update in Nokia’s feature device, HMD Global, the home of Nokia phones, announced on Tuesday.

The slider banana 4G feature phone is designed with intuitive tactile mechanics with slide to answer and end calls as well as a helicopter-style spin on its axis.

“We’re so happy that our fans in India will get WhatsApp on ‘Nokia 8110’ first anywhere in the world,” said Ajey Mehta, Vice President and Country Head – India, HMD Global.

whatsapp
WhatsApp on a smartphone device. Pixabay

Running the web-based mobile operating system (OS) KaiOS, the phone supports VoLTE calling and comes equipped with pre-loaded Google apps like Assistant, Maps, Search and other apps like Facebook, Outlook and Gmail.

Also Read- Huawei Set to Launch its Flagship P30 Series in India Next Week

Priced at Rs 4,999, the feature phone is available offline as well as on Amazon.in, Flipkart.in and Nokia’s official website in traditional black and banana yellow colour variants.

The feature phone was first announced in February 2018 at the Mobile World Congress (MWC) held in Barcelona. (IANS)