Nokia to launch cloud-based software subscription service

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STOCKHOLM, Nov 17 (Businesshala) – Nokia (NOKIA.HE) said on Wednesday that it plans to launch a cloud-based software subscription service targeted at telcos to provide software around analytics, security and data management.

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Many technology companies are moving from advance licensing to subscription models to create a predictable, recurring business.

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While some of Nokia’s software portfolio will be offered under subscription from this year, and will be commercially available in early 2022.

“When Nokia created its software division in 2016, there was an idea to get into subscriptions as well, but we never executed it,” Senior Vice President Mark Boon said in an interview.

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“Now that we’ve implemented it … we’ve built the underlying technology to be able to work at scale,” he said.

A cloud-based software platform can lower costs, make it easier to deploy and manage, and allow customers to try out the platform before committing to long-term use.

Nokia, which has been in discussions with potential customers, said it is targeting an addressable market of $3.1 billion with an annual growth rate of around 25-30% for the period 2021-2025.

Reporting by Supanth Mukherjee in Stockholm Editing by Nick Ziminsky

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