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Is This Phone Company the Next Big Name in Cloud Tech?

October 23, 2017
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For years, Finnish company Nokia dominated the cell phone market thanks to its affordable and durable devices that saw use across the globe. While it still carries on that legacy today, it has begun to make a shift towards one of the most competitive and important fields around; cloud computing.

Nasdaq reported that:

Nokia ( NOK ) said Thursday it has entered a strategic collaboration with Amazon Web Services Inc. ( AMZN ) to accelerate the migration of service provider applications to the cloud and drive digital innovation for large enterprise customers.

Amazon has been working hard to develop the leading IoT (Internet of Things) service in the world and Nokia feels that they can help in this venture thanks to their long history in communications, according to Business Insider.

Read: This AI Partnership May be the Next Big Thing

According to Forbes, IoT is a network of devices that can communicate and embed information without human interaction. If you are interested in learning more about it, see the link below.

The reason this is significant is because it means that Nokia has taken its first steps into a brand new and exciting industry with one of its most significant contributors. This could mean that the company will be involved in groundbreaking R&D that could help both partners grow.

Investors that are interested in technology should keep an eye on this partnership. Both companies have proven track records in their respective fields and Amazon has already formed some major partnerships to help stay ahead of the pack. Take a look at both companies and see if they may be a good investment for you.

To read Nasdaq’s article on Nokia and Amazon’s partnership, click here.

To read Business Insider’s article on Nokia’s partnership with both Amazon and Bosch, click here.

To read Forbes’ article on IoT, click here.

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