Nokia mentioned on Wednesday it plans to launch a cloud-based software program subscription service concentrating on telecom corporations for offering software program round analytics, safety, and knowledge administration.
Many expertise corporations have been transferring towards a subscription mannequin from upfront licensing to construct a predictable, recurring enterprise.
Whereas a few of Nokia’s software program portfolio can be supplied beneath subscription from this 12 months, extra can be commercially out there in early 2022.
When Nokia created its software program division in 2016, the thought was to get into subscription too, however we by no means executed, Senior Vice President Mark Bunn mentioned in an interview.
“Now we have now executed on it … we have now constructed underlying expertise to have the ability to function at scale,” he mentioned.
A cloud-based software program platform can decrease prices, make it simpler to deploy and handle, and clients can strive the platform earlier than committing for long-term use.
Nokia, which has been in discussions with potential clients, mentioned it’s concentrating on an addressable market of $3.1 billion (roughly Rs. 23,060 crore) for the 2021-2025 interval, with an annual development charge of about 25-30 p.c.
© Thomson Reuters 2021