Nokia to initiate cloud-based software service

This year Nokia’s software portfolio will be under subscription, while others will be added commercially in early 2022.

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New Delhi: Nokia planned to launch a cloud-based software subscription service to target telecom companies for providing data and security management, software analytics.

Numerous tech firms have been progressing towards a subscription model from upfront licensing to creating a predictable and flowing business.

This year Nokia’s software portfolio will be under subscription, while others will be added commercially in early 2022.

“Now we have executed on it… we have built underlying technology to be able to operate at scale,” Senior Vice President Mark Bunn stated.

A cloud-based software platform works as a cost-cutter, making it easy to manage and deploy, the clients and customers can try the software platform before signing in for the long term.

Nokia has been in discussion with potential clients, citing that it is aiming for an addressable market of $3.1 billion for a period of 2021-2025, with a yearly growth rate of 25-30%.

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