How to Buy Nokia Stock

Like most of us, it’s highly likely that you at some point in your life owned a Nokia mobile phone. Unfortunately, the company is now just a shadow of its former glory as Samsung and Apple dominate the global mobile phone space.

But apart from phone production, Nokia has been actively involved in the telecommunications scene, working on the 5g venture. The technology company also has vested interests in other sectors like consumer electronics and information technology.

In this article, we explain how you can buy Nokia stock from the comfort of your home. We also cover the basics on how to make the purchase and review two top online brokers.

Where to Buy Nokia Stock

Although Nokia is a multi-billion-dollar tech giant, it is actually listed on the Stockholm Stock Exchange. This means that you will need to find an online broker that gives you access to Sweden-based companies. With that in mind, below you will find a high-quality stock trading platforms that allow you to buy Nokia stock.

Plus500 – CFD Broker

Plus500 is an ideal place to buy Nokia. This is because the broker is a specialist CFD platform, so you'll get to place more sophisticated trades. For example, you can apply the leverage of up to 5:1 when trading Nokia stocks, meaning a $1,000 balance would allow you to invest up to $5,000.

You also have the option of going short on Nokia, meaning you are speculating that the value of the company will go down. The only chink in the armour with CFDs is that you will not be entitled to any Nokia dividends, as you do not own the underlying asset.

If you are interested in trading stock CFDs at Plus500, you can get started with a minimum deposit of just $100. The platform accepts payments via debit/credit card, Paypal, and bank wire. No deposit or withdrawal fees apply. Plus500 does not charge any trading commissions and you therefore only have to part with the spreads.

However, if you trade Nokia stocks on leverage, or you decide to short-sell the company, overnight financing fees will apply. We should also note that Plus500 has an excellent reputation in the online brokerage arena. Not only is its parent company listed on the London Stock Exchange, but it holds multiple regulatory licenses.

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• Stocks only available via CFDs
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How to Buy Nokia Stock

Here is a step by step guide on how to buy Nokia stocks on a trading platform.

Step 1: Search for Nokia Stock

At the top of the page, you will see a search box. Enter ‘Nokia’ and click on the corresponding result.

Step 2: Click on ‘Trade’

To go straight to the Nokia trading page click on the blue ‘Trade’ button.

Step 3: Set-Up Order and Buy Nokia Stock

After clicking on the trade icon, set the trade parameters.

These include:

• Amount: This is the amount that you wish to invest in Nokia stock in US dollars.
• Set Rate: It’s best to leave this set as a ‘market order’, as the broker will simply execute your trade at the next available price.
• Stop Loss: If you want to mitigate your losses by selling your Nokia stocks when they hit a certain price, set up a stop-loss order.
• Take Profit: If you want to lock-in a profit target, set up a take-profit order.

Finally, click on ‘Buy’ to complete your Nokia stock order.

Why Do People Invest in Nokia?

Primed to Capitalize on the Lucrative 5g Market

There can be no denying that 5g telecommunication is going to play a significant role in the future of the global communication industry. With that said, you might be surprised to learn that Nokia is heavily vested in the space, but not from the perspective of its mobile phone division. On the contrary, Nokia is at the forefront of network equipment that is required to power the 5g infrastructure.

When you consider that global sales of 5g kits are projected to surpass $4 billion this year, Nokia stands the chance to play a leading role. We should, however, also note that the company faces fierce competition from the likes of Huawei and Ericsson in the global race for 5g development.

Pekka Lundmark Will be Returning to the Helm

Nokia stockholders have been somewhat disgruntled with the strategy employed by current CEO Rajeev Suri over the past few years. As a result, it was recently announced that Suri would be stepping down from his position in September of this year.

In news that was well received by the markets, former CEO Pekka Lundmark will be returning to the helm. Lundmark was behind much of the company’s success in the 1990s, so his appointment is welcome news for shareholders.

New Partnerships Continue to Develop

Nokia has announced a number of new partnerships in recent months, with the likes of Intel and Marvell looking to help accelerate the company’s 5g journey. An additional partnership with Elenion was also announced in Q1 2020, so expect to see further collaborations in the coming months.

Cost-Cutting at the Forefront of Nokia’s Short-Term Strategy

As lucrative as the 5g marketplace might one day be for Nokia, there is no getting away from the fact that the venture is bleeding cash reserves. With management looking to free some much-needed capital up, a number of cost-cutting exercises are in the making.

This became evident in Q4 2019 when Nokia announced that it would be temporarily suspending dividend payments. Similarly, Nokia also announced that it will be looking to shrink its global workforce, which again, should help reduce its pressures on cash flow.

About Nokia Stock

Company and Stock history

Launched in 1865, Nokia is a telecommunications company based in Finland. It wasn’t until the 1990s when Nokia became a house-hold name in the mobile phone space, where it enjoyed tremendous success well into the early 2000s. However, Nokia is now a shadow of its former self dues to its failure to recognize the ever-growing threat from smartphone manufacturers like Apple, Samsung, and even Blackberry.

To put Nokia’s rise and fall into perspective, the company hit an all-time high in 2007 at just under 27 EUR per share. And today? Well, in Q2 2020 the same shares trade around 3-4 EUR. This amounts to a stock price downfall in excess of 85%. With that being said,  Nokia has since diversified into other markets.

This includes everything from software, digital health services, and the internet of things (IoT). However, leading Nokia’s potential return to the big stage is its exposure to the 5g phenomenon. The company has invested vast resources in the development of network equipment kits that are required to function as the underlying infrastructure.

Conclusion

It is notable that the company is now diversifying into a number of different sectors. This at the very least is allowing Nokia to move away from its failing mobile device division. Overall, much of the hope is on the company’s ambitious aim to play a major role in 5g development.

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