Nokia doubles down on IoT pivot

IoT Installation base

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Nokia announced a pair of partnerships and collaborative efforts that continue to push the company further into the IoT, leveraging its communication background to facilitate new services. The company's pivot to connected devices provides a model that other firms in fading segments can look to as they attempt to revive growth.

Here's who Nokia is joining forces with:

Amazon Web Services (AWS). Amazon and Nokia will collaborate to improve cloud migration and wide-area networking services for companies using the cloud service, according to ZDNet. The companies will also work together on strategies to facilitate the rising prominence of edge computing devices and the pending introduction of 5G networks. Nokia can leverage its experience as a leading company in communications to provide its services in collaborative efforts in the IoT, where communication is a critical component that underpins widespread connectivity and allows companies with devices in the field to monitor and control them through a platform like AWS.
Bosch. This partnership, which will focus on asset tracking and advanced data analysis, will join Nokia’s connectivity and IoT platform together with Bosch’s connected devices and solutions group. Together, they'll work on solutions that allow companies to track and collect critical data from their assets, enabling predictive maintenance and environmental monitoring that can make operations more efficient.

Nokia sees the IoT as an opportunity to leverage its background in communications.These partnerships show how it’s able to use that background to underpin other companies’ operations and to facilitate the transmission of data from connected devices to central platforms. Turning to the IoT may take Nokia out of the consumer spotlight, but it will be able to continue to bring in revenue by facilitating the growth of the IoT and the continued spread of connected devices.

BI Intelligence, Business Insider's premium research service, has conducted an exclusive study with in-depth research into the field and created a detailed report on the IoT that:

Provides a primer on the basics of the IoT ecosystem
Offers forecasts for the IoT moving forward and highlights areas of interest in the coming years
Looks at who is and is not adopting the IoT, and why
Highlights drivers and challenges facing companies implementing IoT solutions

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