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Nokia Corporation (NOKIA.HE)

Helsinki - Helsinki Real Time Price. Currency in EUR
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3.6010+0.0340 (+0.95%)
At close: 6:29PM EEST
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Neutralpattern detected
Previous Close3.5670
Bid3.5805 x 0
Ask3.5825 x 0
Day's Range3.5500 - 3.6010
52 Week Range2.0825 - 4.3520
Avg. Volume17,973,451
Market Cap20.234B
Beta (5Y Monthly)0.46
PE Ratio (TTM)33.34
EPS (TTM)0.1080
Earnings DateOct 29, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateFeb 03, 2020
1y Target Est5.69
  • Lee Kun-hee, Korean Icon Who Transformed Samsung, Dies at 78

    Lee Kun-hee, Korean Icon Who Transformed Samsung, Dies at 78

    (Bloomberg) -- Lee Kun-hee, who transformed Samsung Electronics Co. from a copycat South Korean appliance maker into the world’s biggest producer of smartphones, televisions and memory chips, has died. He was 78.Lee passed away on Sunday with his family by his side, the company said in a statement, without mentioning the cause of death. His family will hold a private funeral. He had been hospitalized since a heart attack in 2014 and was treated for lung cancer in the late 1990s.Lee, who told employees to “change everything except your wife and children” during his drive to foster innovation and challenge rivals such as Sony Corp., was South Korea’s richest person. He had an estimated net worth of $20.7 billion, according to the Bloomberg Billionaires Index. Samsung, the biggest of South Korea’s family-run industrial groups, known as chaebol, has been led by his only son since the heart attack.“Chairman Lee was a true visionary who transformed Samsung into the world-leading innovator and industrial powerhouse from a local business,” the company said. “His legacy will be everlasting.”His son Jay Y. Lee has been the conglomerate’s de facto leader since his father’s hospitalization in 2014, but it isn’t clear whether he will take over his father’s role as had long been anticipated. The younger Lee is currently grappling with two simultaneous legal disputes with South Korean prosecutors over allegations of bribery and corruption related to succession.Lee, who has denied any wrongdoing, was in fact supposed to attend a hearing for one of those court cases Monday, but instead is expected to remain at the hospital with his family. Samsung hasn’t said who will step into the elder Lee’s role as chairman.Samsung, the maker of the Galaxy line of smartphones, has been riding a Covid-era boom in online activity despite the legal clashes. The company also supplies semiconductors for Google’s data centers and Apple Inc.’s iPhone, and is the world’s most advanced maker of displays for TVs, computers and mobile devices.Samsung C&T Corp., the de facto holding company for the group, surged as much as 21%, while Samsung Life Insurance Co. rose as much as 16%. Some units at Samsung Group are expected to raise dividends, according to a note from Korea Investment & Securities. Samsung Electronics shares were little changed.Lee Kun-hee’s heirs now face an estate tax of roughly $10 billion, and paying it may complicate the family’s control of the Samsung conglomerate -- his beneficiaries would likely have to sell some assets to cover the tax — diluting their stake in Samsung. South Korea’s levy of 50% on estates of more than 3 billion won ($2.6 million) is the second-highest among countries in the Organization for Economic Cooperation and Development, after Japan.The Samsung empire includes 62 companies. Although the late Lee owned large chunks of some of the businesses — including 4.2% of Samsung Electronics — they’re not big enough to afford control of the conglomerate. The family depends on informal ties to executives who run related companies, and a lot of that soft power may dissipate with Lee’s death.It was Lee Kun-Hee who built the company into the electronics powerhouse of today, becoming synonymous with the rise of South Korea on a global economic stage.Named one of the world’s 100 most influential people by Time magazine in 2005, Lee began overhauling Samsung Electronics after he saw the company’s products gathering dust in a Los Angeles electronics store, according to “The Lee Kun Hee Story,” a 2010 biography by Lee Kyung-sik. The Suwon, South Korea-based company had become known for cheap, low-quality electronics gear and was in the “second phase of cancer,” sending out 6,000 people to fix products made by 30,000 employees, Lee said in 1993, according to the biography.Why Samsung’s Billionaire Scion Faces Two More Trials: QuickTakeThe company’s makeover started in 1993 when Lee gathered top executives in Germany and laid out a plan, known as the Frankfurt Declaration, to transform Samsung from a second-tier television maker into an industry leader. The company’s new mission: create high-quality products, even if it meant lower sales.Samsung Electronics became the world’s top maker of computer memory chips in 1992, the same year it became the first to develop 64-megabyte DRAM chips, according to the company.Lee was born on Jan. 9, 1942, in Daegu about 240 kilometers (150 miles) south of Seoul, and was raised in the nearby rural district of Uiryeong, according to the company.In 1938, his father Lee Byung-chull opened a four-story grocery store in Daegu that would later become Samsung Group.As a teenager, Lee Kun-Hee liked movies and cars and kept to himself. He took up wrestling and played rugby in high school to fight loneliness. He graduated with a degree in economics from Waseda University in Tokyo and also studied business administration in the U.S. at George Washington University in Washington.In 1971, Lee Byung-chull chose his youngest son to be his successor, and in 1974, the company moved into semiconductors when it acquired a 50% stake in unprofitable Hankook Semiconductor. The business turned profitable in 1988, helped by dynamic random-access memory chips it produced.After the Frankfurt Declaration, Lee required employees to arrive at work at 7 a.m. instead of their usual 8:30 a.m. start, so they could “soak up reform in their slumber,” according to the biography.In 1995, he assembled 2,000 workers to watch him make a bonfire out of 150,000 mobile phones, fax machines and other company products that didn’t meet his quality standards.Lee’s cultural change eventually produced results. Samsung Electronics surpassed Tokyo-based Sony to become the top seller of flat-screen TVs in 2006, the same year its market value exceeded $100 billion.In 2010, Samsung introduced the Galaxy-branded smartphone running Alphabet Inc.’s Android software, which helped it pass Apple as the world’s biggest smartphone maker in 2011 in terms of units sold. By introducing the Galaxy Note in 2011, Samsung created a new product niche known as the phablet, a smartphone-tablet hybrid.Political ControversySamsung became the biggest seller of all mobile phones in 2012, unseating Nokia Oyj, which had been the industry leader for more than a decade. Its success in smartphones then boosted profits at its component businesses, including memory chips, display and processors.Lee’s career was also notable for its setbacks and controversies. An expansion into the car business was unsuccessful. Samsung Motor Inc. rolled out its first automobiles in 1998 and failed to attract buyers. The unit was placed into receivership and Renault SA purchased a majority stake in 2000.Lee was mired in political scandals in the late 1990s after being convicted of paying bribes to former president Roh Tae-woo in 1996. He was pardoned by President Kim Young-sam a year later.In 2009, Lee was found guilty of tax evasion and breach of duty for causing losses at Samsung SDS Co., an information technology services provider, because he knew the company illegally sold bonds with warrants to his son at artificially low prices. He was fined 110 billion won and received a suspended three-year jail sentence.Presidential PardonFour months after the 2009 ruling, South Korea’s then-President Lee Myung-bak pardoned Lee, a member of the International Olympic Committee, so he could help the country’s successful bid to host the 2018 Winter Olympics in Pyeongchang.Lee, who resigned from the board of Samsung Electronics in 2008 amid the controversies, returned as chairman in March 2010, telling employees the business was “facing a real crisis.”“In 10 years, the majority of products that represent Samsung may no longer exist,” he said in a statement announcing his return. “We must have a new start. There is no time to hesitate.”Two months later, Samsung Group said it would invest 23 trillion won to expand in areas such as health care and solar batteries by 2020.Lee’s son, Jay Y. Lee, became vice chairman of Samsung Electronics in December 2012 and his daughter, Lee Boo-jin, is president of Hotel Shilla Co., a Samsung affiliate, raising concerns that the founding family would maintain its grip on the conglomerate at the expense of minority shareholders. That issue lies at the heart of the two legal disputes the younger Lee is now embroiled in.In August 2019, the Supreme Court ordered the retrial of Jay Y. Lee over bribery charges that voided an earlier decision to suspend Lee’s 2.5-year prison sentence. A special prosecutor had indicted the Samsung heir on charges of bribing a friend of former President Park Geun-hye in return for government backing for a merger that helped cement his control over Samsung while his father was hospitalized.In 1967, Lee Kun-hee married Hong Ra-hee. In addition to children Jay Y. and Boo-jin, he had a daughter, Lee Seo-hyun. Another daughter, Lee Yoon-hyung, died in 2005 at age 26.(Updates with share reactions in eighth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Nokia to Provide Cell Service on the Moon (and Other Space Stories)
    Motley Fool

    Nokia to Provide Cell Service on the Moon (and Other Space Stories)

    Nokia (NYSE: NOK), the company that started out producing paper in Finland, evolved into the world's largest cellphone company, then lost that franchise and refocused on telecom infrastructure instead, has just won a $14 million NASA contract to build a 4G wireless cellphone network on the moon! Integrated into a lunar lander spacecraft that will make moonfall in 2022, Nokia's central 4G system will permit lunar rovers (which will arrive later) to communicate with their base camp, and from there with orbiting spacecraft and Earth itself. Lockheed Martin (NYSE: LMT) is the world's biggest pure-play defense contractor, and also one of NASA's top 10 contractors by dollars awarded.

  • Long-Term Investors Can Consider Investing in Nokia

    Long-Term Investors Can Consider Investing in Nokia

    Apple’s (NASDAQ:AAPL) iPhone event on Oct. 13 has made many investors more interested in the shares of companies that are involved in the 5G space. One such name is Nokia stock. Source: RistoH / Shutterstock.com Recent research by Nokia and Nokia Bell Labs determined that “5G-enabled industries have the potential to add $8 trillion to global GDP by 2030, as COVID-19 accelerates medium and long-term digital investment and value creation… Companies at an advanced level of 5G adoption were the only group to experience a net increase in productivity (+10%) following COVID-19, and the only group able to maintain or increase customer engagement during the pandemic.” The report continues, “across 8 economies  – Australia, Germany, Finland, Japan, Saudi Arabia, South Korea, the UK and the US – 50% of companies are at the midway level on 5G readiness, between initial planning, trials and deployment, compared to just 7% that are classed as 5G mature.”InvestorPlace - Stock Market News, Stock Advice & Trading Tips Now investors may wonder if they should buy the shares of Nokia, one of the companies that is leading the global deployment of 5G networks. The company is expected to report earnings at the end of October. Between now and then, Nokia stock may be choppy, especially given the increased volatility levels of the stock market during this busy earnings season. However, long-term investors may regard dips by Nokia as a good opportunity to buy its shares. Here’s why. Nokia’s Q2 Results Finland-based Nokia makes telecom-grade networking equipment. In 2013, it sold its fading mobile-phone business to Microsoft (NASDAQ:MSFT). Then management changed course, re-positioning the company as a networking firm, and, more recently, as a 5G-equipment business. 7 Airline Stocks to Buy on Pelosi Stimulus Hopes The company released its Q2 results in late July. Last quarter, Nokia’s sales dropped 11% year-over-year to 5.09 billion euros. On the other hand, its profit, excluding certain items, came in at 316 million euros, compared to 258 million euros during the same period a year earlier. Investors were pleased with Nokia’s cash flow and profitability. Over the past several quarters, Nokia has been increasing its large-scale capital investments, particularly in 5G networking. Its most important clients are communication service providers. The company has signed several important deals to introduce 5G networks in a number of countries. For instance, in late September, it signed a major 5G equipment agreement with BT (OTCMKTS:BTGOF), the U.K.’s biggest telecom  company. In October, Verizon Communications (NYSE:VZ) announced it had chosen  Nokia to provide private 5G networks outside the U.S., mainly in Europe and the Asia-Pacific. NASA has also recently selected Nokia as a partner to build the first LTE/4G communications system on the moon. Analysts believe that, going forward, the proliferation of 5G technology will likely drive Nokia’s growth. Their median price target on Nokia stock is $5.27. The shares’ forward price-earnings and price-sales ratios stand at 12.94 and 0.89, respectively. More value investors may begin to buy the shares. The Bottom Line on Nokia Stock In recent quarters, Nokia’s management has put more emphasis on getting 5G contracts. Its recent 5G wins have shown that those efforts are beginning to pay off. I believe that Nokia stock price will likely go over $5 in the coming weeks, and it could possibly go even higher than that. Therefore, long-term investors should consider buying it around its current levels. Meanwhile, the company could even become a takeover target. Alternatively, those investors who are interested in 5G names but do not want to buy the stock may consider purchasing the shares of an exchange-traded fund (ETF) that owns the company. Examples of such funds include the Defiance 5G Next Gen Connectivity ETF (NYSE:FIVG), the First Trust IndXX NextG ETF (NASDAQ:NXTG), and the Defiance Quantum ETF (NYSE:QTUM). On the date of publication, Tezcan Gecgil did not have (either directly or indirectly) any positions in the securities mentioned in this article. Tezcan Gecgil has worked in investment management for over two decades in the U.S. and U.K. In addition to formal higher education in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Her passion is for options trading based on technical analysis of fundamentally strong companies. She especially enjoys setting up weekly covered calls for income generation. She also publishes educational articles on long-term investing. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner Radical New Battery Could Dismantle Oil Markets Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company The post Long-Term Investors Can Consider Investing in Nokia appeared first on InvestorPlace.