Nokia is also ready to enter the crypto sector

Nokia seems to be preparing to enter the crypto sector. 

The well-known Finnish company that produces mobile phones has reportedly filed a request in China to obtain a patent related to digital assets. 

The crypto patent of Nokia

The request CN119155674A was submitted to the CNIPA (China National Intellectual Property Administration), the official patent office of the Asian country, by Nokia Technologies.

The text of the request explicitly mentions digital assets, requesting the patent for a device capable of encrypting digital assets.

The details of neither the technology used nor the device mentioned in the patent application are known.

To tell the truth, such a request does not seem to be very clear, but in the absence of public details, it is impossible to understand precisely what it is about. 

What is certain, however, is that it is a technology specifically developed for the crypto sector, in which the company is not yet a protagonist.

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TheTheTheTheTheTheTheTheTheTheTheTheTheTheTheTheTheTheTheTheTheTheTheTheTheNokia is a publicly traded company founded as far back as 1865 in Finland. 

Initially, it was involved in producing cellulose, taking advantage of the abundance of timber available in those areas. 

Subsequently, it was purchased by the leading company that produced rubber in Finland, and from 1922 it began to engage in telecommunications by entering a holding with the main national telephone cable industry.

His entry into the world of electronics occurred in 1963, with the radio. 

Thanks to an agreement with the Soviet Union, it became a major producer of many goods, including automatic telephone switchboards, mobile radios, capacitors, chemical products, gas masks, and military equipment.

The turning point came in 1977, when the new president Kari Kairamo decided to focus more on the western markets, instead focusing on televisions and personal computers.

Following that turning point, in 1984 the company created its first portable phone, Mobira Talkman.

In fact, in 1981, after the purchase of a mobile phone company, it had launched the world’s first international cellular network, Nordic Mobile Telephone (NMT). 

The boom of Nokia

At the time, the value of the company had been estimated at 2.7 billion dollars, but over the following years it would explode. 

On one hand, it was a true industrial giant that produced a vast number of goods, especially televisions, on the other hand, it was one of the main players in the boom of cellular telephony. 

It is therefore a company that has always been accustomed to both innovating and changing, but despite this, it has not managed to ride the wave of smartphones. 

In the 1990s of the last century, it focused precisely on telecommunications, and in particular on mobile telephony, eventually producing probably the most famous cellular phones of the pre-smartphone era 

To tell the truth, Nokia also started producing smartphones, which it still produces now, but in this specific sector, it was overwhelmed by the competition, first American and then Asian. 

Nokia on the Stock Exchange

Nokia Corporation has been listed on the Finnish stock exchange since the year 2000. 

It went public during the dot-com bubble, and in fact, by 2001, the price of its shares had already fallen by 70%. That drop actually only ended in 2004, after a loss of more than 80%.

In 2007 it seemed to be recovering, but the 2008 crisis, and especially the arrival of smartphones on the markets (iPhone is from 2007), led to a new bear. 

The lowest point was reached in 2012, when the cumulative loss since the debut had exceeded 97%.

Since then, the stock market trend of Nokia’s stock has completely changed, because it has done nothing but oscillate between the 2012 low and the 2009 low, reached at the end of the 2008 financial crisis. 

The minimum of 2012 was 1.3€ while the peak since then was 7.8€ in 2015. The initial price in 2000 was 59€, while the historical maximum was reached in 2000 at 65€.

After the financial market crash of March 2020, due to the onset of the pandemic, the price fluctuated between 2.8€ and 5.6€, but without a clear direction upwards or downwards. 

During 2024, for example, it did rise almost constantly, but without ever exceeding 4.6€.

Nokia and the crypto sector

All this leads to two conclusions. 

The first is that Nokia seems to be historically a company absolutely capable of reinventing itself and entering as a protagonist in new sectors. 

The second is that it most likely needs a boost. 

To tell the truth, it has been since 2021 that it has been trying to enter the crypto sector, but its initial efforts were not focused on digital assets, but on blockchain technology. This technology to date has yielded interesting results only in the digital asset sector, and this has in fact prevented Nokia from being able to exploit it. 

Last year they also tried the path of the metaverse, but as we know for now that path has not yielded interesting results to practically anyone. 

The real turning point in this sector for Nokia could come precisely from embracing digital assets, namely cryptocurrencies and tokens, given that in this specific field there have been quite a few successes in recent years, as suggested, for example, by Solana’s smartphone. 

In light of this, it seems one can assert that Nokia could definitively open up the crypto sector, which is still burdened by many doubts, especially if it manages to leverage it to recover. 

Source: https://en.cryptonomist.ch/2024/12/27/nokia-is-also-ready-to-enter-the-crypto-sector/

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