Nokia to launch cloud-based software subscription service

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Nokia to launch cloud-based software subscription service

STOCKHOLM, Nov 17, Reuters - Nokia is going to launch a cloud-based software subscription service targeting telecom companies that provide software around analytics, security and data management.

When Nokia created its software division in 2016 the idea was to get into subscription, but we never executed, Senior Vice President Mark Bunn said in an interview.

He said that they have built the underlying technology to be able to operate at scale.

It can make it easier to deploy and manage, and customers can try the platform before committing for long-term use, because of the cloud-based software platform.

Nokia said it's targeting an addressable market of $3.1 billion for the 2021 -- 2025 period, with an annual growth rate of about 25 -- 30%.