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Nokia Corporation Sponsored American Depositary Shares
Nokia (NYSE: NOK) was once one of the world's top mobile phone makers, but it sold its handset unit to Microsoft(NASDAQ: MSFT) in 2014. The Finnish company subsequently focused on growing its Nokia Networks business, which sells telecom equipment to carriers.
Nokia bought its rival Alcatel-Lucent in 2016 to expand that business and become the world's second-largest telecom equipment company. It controlled 16% of the market by revenue last year, according to Dell'Oro Group, compared to Huawei's 28% share and Ericsson's (NASDAQ: ERIC) 14% share.