Technext Technext
  • Home
  • Stories
    • Clubhouse Raises Undisclosed Series C Fund at $4Bn Valuation as Competition Grows
      Clubhouse Raises Undisclosed Series C Fund at $4Bn Valuation as Competition Grows
      51 mins ago 0
      29
    • Andela Announces Global Expansion With Developers in 37 Countries Including Latin America
      Andela Announces Global Expansion With Developers in 37 Countries Including Latin America
      3 hours ago 0
      40
    • Tech Events this Week: Digital Economic Summit, Crypto Regulation Webinar and Others
      Tech Events this Week: Digital Economic Summit, Crypto Regulation Webinar and Others
      4 hours ago 0
      16
    • Social Media Roundup: Twitter in Ghana, Ahmed Musa Rejoins Kano Pillars and others
      Social Media Roundup: Twitter in Ghana, Ahmed Musa Rejoins Kano Pillars and others
      2 days ago 0
      40
    • ‘Banks Told me I was too Young to Buy Stocks’ – Tomie Balogun on why she Ventured into Investments
      ‘Banks Told me I was too Young to Buy Stocks’ – Tomie Balogun on why she Ventured into Investments
      2 days ago 0
      82
    • Global Tech Roundup: Facebook Faces $3.4Bn Fine for Latest Data Breach
      Global Tech Roundup: Facebook Faces $3.4Bn Fine for Latest Data Breach
      2 days ago 0
      54
    • ‘We are Reviewing our Rates,’ Bolt Tells Boycotting Drivers in Kenya
      ‘We are Reviewing our Rates,’ Bolt Tells Boycotting Drivers in Kenya
      3 days ago 0
      94
    • Possible Reasons why NCC Resumed SIM Sales and Registration Before Concluding its Audit
      Possible Reasons why NCC Resumed SIM Sales and Registration Before Concluding its Audit
      3 days ago 0
      72
    • uduX Partners Piggyvest to Help Nigerians Invest in their Favorite Musicians
      uduX Partners Piggyvest to Help Nigerians Invest in their Favorite Musicians
      3 days ago 0
      71
  • Features
    • Jamb Isn’t the First! Here are 10 times Nigerian Govt Agencies have Been Hacked in the Last Decade
      Jamb Isn’t the First! Here are 10 times Nigerian Govt Agencies have Been Hacked in the Last Decade
      4 days ago 0
      94
    • Ramadan Kareem: 5 Ways Tech Can make Ramadan Easier for Your Body and Soul
      Ramadan Kareem: 5 Ways Tech Can make Ramadan Easier for Your Body and Soul
      6 days ago 0
      125
    • Identity Theft, Foolproof Scams: How Data Breaches in Tech Companies can Cost You
      Identity Theft, Foolproof Scams: How Data Breaches in Tech Companies can Cost You
      7 days ago 0
      133
    • CBN’s BVN Verification Ban: What it Means for Nigerian Fintechs and their Customers
      CBN’s BVN Verification Ban: What it Means for Nigerian Fintechs and their Customers
      1 week ago 0
      496
    • ‘Limiting Mindsets Prevent Women from Making the Most of Tech Communities’ – Temilade Adelakun
      ‘Limiting Mindsets Prevent Women from Making the Most of Tech Communities’ – Temilade Adelakun
      2 weeks ago 0
      191
    • Electronic Transactions Increased by 77% to N2.3bn in 2020 as USSD Transactions Increased by 80%
      Electronic Transactions Increased by 77% to N2.3bn in 2020 as USSD Transactions Increased by 80%
      2 weeks ago 0
      189
    • The dying cybercafe culture is still driving ICT penetration in low-income areas
      The dying cybercafe culture is still driving ICT penetration in low-income areas
      2 weeks ago 0
      260
  • Reviews
    • Tech Events this Week: Digital Economic Summit, Crypto Regulation Webinar and Others
      Tech Events this Week: Digital Economic Summit, Crypto Regulation Webinar and Others
      4 hours ago 0
      16
    • Global Tech Roundup: Facebook Faces $3.4Bn Fine for Latest Data Breach
      Global Tech Roundup: Facebook Faces $3.4Bn Fine for Latest Data Breach
      2 days ago 0
      54
    • Fundall is Helping Nigerians Gain Financial Intelligence and Make Investments
      Fundall is Helping Nigerians Gain Financial Intelligence and Make Investments
      4 days ago 0
      69
    • Lagos is the PoS Capital of Nigeria with about 70% of Total Transactions Carried out in 2020
      Lagos is the PoS Capital of Nigeria with about 70% of Total Transactions Carried out in 2020
      5 days ago 0
      127
    • Tech Events this Week: Cashless Africa, Deloitte’s Black in Tech Summit and Others
      Tech Events this Week: Cashless Africa, Deloitte’s Black in Tech Summit and Others
      1 week ago 0
      132
    • Global Tech Roundup: Twitter Wanted to Buy Clubhouse for $4 Billion!
      Global Tech Roundup: Twitter Wanted to Buy Clubhouse for $4 Billion!
      1 week ago 0
      166
    • Scholarships Africa Connects Students to Hundreds of Int’l Scholarships in Minutes
      Scholarships Africa Connects Students to Hundreds of Int’l Scholarships in Minutes
      1 week ago 0
      180
  • Women in Tech
  • Videos
  • Contact Us
Go to...

    Nokia Steps Up its 5G Race as it Appoints Pekka Lundmark to Take Over from Rajeev Suri as Nokia CEO

    Tomiwa OnaleyeTomiwa Onaleye
    March 3, 2020
    Nokia Steps Up its 5G Race as it Appoints Pekka Lundmark to Take Over from Rajeev Suri as Nokia CEO

    Nokia CEO, Rajeev Suri is finally set to step down from his office. The tech giants announced its chief executive will step leave office in September 2020, after 6 years at the helm.

    According to the company, Pekka Lundmark, the current head of Finnish energy group, Fortum, will take over from Suri as CEO effective September 1, 2020.

    Suri raised the value of Nokia to over $11 billion

    Rajeev Suri, who became Nokia CEO and president in April 2014 transformed the Nokia brand during his tenure. He raised the company’s overall value quite astonishingly from approximately $1.1 billion to more than $11 billion.

    In 2015, he championed the acquisition of Alcatel-Lucent, a global telecom company for $16.6 billion and spurred the re-emergence of the Nokia mobile phones. The Nokia mobile unit had initially been sold to Microsoft in 2013 before Suri became Nokia CEO.

    L-R, Pekka Lundmark and Rajeev Suri

    He also oversaw the creation of a standalone software business as well as the launch of ‘internet of things’ (IoT) products like soil sensors for agriculture.

    Speaking on his impending departure, Suri said he leaves the company in the belief that it will return to better performance.

    Nokia will always be part of me, and I want to thank everyone that I have worked with over the years for helping make Nokia a better place and me a better leader. I leave the company with a belief that a return to better performance is on the horizon and with pride for what we have accomplished over time.

    Rajeev suri, CEO, Nokia

    After more than 25 years in the company, Suri is handing over the reins of the company to Lundmark. Speaking about his successor, Sari said Pekka Lundmark is an excellent choice for the company.

    “Pekka is an excellent choice for Nokia. I look forward to working with him on a smooth transition and wish him the best success in his new role.”

    Rajeev Suri

    Lundmark to fight Nokia’s 5G battles

    Nokia is one of the world’s top telecom companies leading the global 5G penetration drive. For years, the company has been locked in a fierce battle for 5G dominance with top competitors like Huawei and Ericsson.

    However, Nokia appears to be lagging behind its competitors in the 5G race. As of last month, Nokia had about 68 commercial 5G contracts, far below Huawei which said it has at least 91 and Ericsson which claimed it had 81 deals.

    Nokia CEO, Rajeev Suri to be Replaced by Pekka Lundmark as Coy Eyes 5G Race
    Nokia is one of the top companies leading the 5G drive

    Also, Nokia suspended its dividend last year so it could free up resources to continue investing in 5G. And the new CEO, Lundmark will be expected to leverage his over 20 years of experience in the industry to drive Nokia’s 5G agenda.

    Lundmark is, however, not new to Nokia. He has held various executive roles at Nokia, including vice president of strategy and business development at Nokia Networks from 1990-2000.

    Lundmark has also previously worked as Chief Executive Officer of Konecranes, a global material-handling technology leader. He has a master’s degree from Helsinki University of Technology.

    Although, Lundmark will be taking over the company. Suri will still remain with the company albeit in an advisory capacity till next year.


    If you’d like to get featured on our Entrepreneur Spotlight, click here to share your startup story with us.


    SUBSCRIBE

    Get latest Technology news, reviews, business-related content with a deliberate emphasis on the African narrative and insightful analysis in Nigeria – straight to your inbox.


    Comments

    Share :
    • Facebook
    • Twitter
    • Google+
    • Pinterest
    • Linkedin
    • Email
    Tomiwa Onaleye

    Tomiwa Onaleye

    Tomiwa Onaleye is a content writer that mines emotion bred from words. He is an avid lover of gadgets and Tech World. He graduated with B.Sc Mechanical from the prestigious University of Ibadan.

    Nigeria
    Next article
    Nigeria’s ‘Uber of Tractors’ Hello Tractor Partners John Deere to Bring Mechanised Farming Closer to Local Farmers
    MTN Nigeria Made ₦202.1 Billion Profit and Gained 6.1 Million New Subscribers in 2019
    Previous article
    MTN Nigeria Made ₦202.1 Billion Profit and Gained 6.1 Million New Subscribers in 2019

    Related Posts

    • Stories 51 mins ago

      Clubhouse Raises Undisclosed Series C Fund at $4Bn Valuation as Competition Grows

      Clubhouse Raises Undisclosed Series C Fund at $4Bn Valuation as Competition Grows
      Stories 3 hours ago

      Andela Announces Global Expansion With Developers in 37 Countries Including Latin America

      Andela Announces Global Expansion With Developers in 37 Countries Including Latin America
      Reviews, Stories 4 hours ago

      Tech Events this Week: Digital Economic Summit, Crypto Regulation Webinar and Others

      Tech Events this Week: Digital Economic Summit, Crypto Regulation Webinar and Others
    • Stories 2 days ago

      Social Media Roundup: Twitter in Ghana, Ahmed Musa Rejoins Kano Pillars and others

      Social Media Roundup: Twitter in Ghana, Ahmed Musa Rejoins Kano Pillars and others
      Stories, Women in Tech 2 days ago

      'Banks Told me I was too Young to Buy Stocks' - Tomie Balogun on why she Ventured into Investments

      ‘Banks Told me I was too Young to Buy Stocks’ – Tomie Balogun on why she Ventured into Investments
      Reviews, Stories 2 days ago

      Global Tech Roundup: Facebook Faces $3.4Bn Fine for Latest Data Breach

      Global Tech Roundup: Facebook Faces $3.4Bn Fine for Latest Data Breach

    Bitcoin Recent Prices

    Brandest

    Sign up for Newsletters

    Popular News

    • HiiT PLC is Offering N20 Million Scholarship to Nigerian Students on its Tutor-Led Online Digital Training
      HiiT PLC is Offering N20 Million Scholarship to Nigerian Students on its Tutor-Led Online Digital Training
      10 months ago 0
    • COVID-19: Cybersafe Foundation Unveils Project to Equip Digitally Vulnerable Groups, SMEs
      COVID-19: Cybersafe Foundation Unveils Project to Equip Digitally Vulnerable Groups, SMEs
      7 months ago 0
    • Apple Finally Tops Global Smartphone Market and Could Remain There with New iPhone 13
      Apple Finally Tops Global Smartphone Market and Could Remain There with New iPhone 13
      2 months ago 0
    • GT Bank and UBA Set to Launch Banking Services on Whatsapp Business
      GT Bank and UBA Set to Launch Banking Services on Whatsapp Business
      August 2, 2018 0
    • Social Media Vendors Caught the Black Friday Fever in Nigeria
      Social Media Vendors Caught the Black Friday Fever in Nigeria
      4 months ago 0

    Follow Us

    Latest Tweets

    • technextdotng RT @Olutobiade: #Clubhouse Raises Undisclosed Series C Fund at $4Bn Valuation as Competition Grows The competition is getting stiffer as m…
      about 17 minutes ago
    • technextdotng What do you think will eventually happen to @JoinClubhouse? #MobileApp #Clubhouse
      about 17 minutes ago
    • technextdotng RT @khanyinsola00: Nawa ooo at this point https://t.co/54VcDBRjgf
      about 23 minutes ago
    • technextdotng Now a unicorn, @joinClubhouse's valuation has grown exponentially since the first raise it is currently at a valuat… https://t.co/RaoL5CqWE5
      about 28 minutes ago

    Instagram

    technextdotng

    Technext.ng is the go-to site for news, reviews and insightful analysis in the Nigerian tech space.
    http://ow.ly/ayTM30mSlGS

    @TomieBalogun did not start out with the goal to p @TomieBalogun did not start out with the goal to provide highly sought-after financial insights for over 60,000 Millenials by the year 2021. But, when she realized that she had a challenge with increasing her wealth even after working a number of corporate jobs, she decided to do something about it.

Currently, her fintech startup, The Green Investment Club, is on the verge of committing a 6-figure fund in dollars into a venture capital (VC) vehicle to be invested into African startups. TGIC has invested over $14 million into small and medium businesses and created more than 2,000 jobs. Tomie is also the founder of The Vestract Company; a financial education and investment opportunity platform.
.
.
.
.
.
.
.
#investingwithtomie #tomiebalogun #themillennialinvestor #forextrader #forextrading #fxtrader #daytrading #forexprofit #millionairemindset #technicalanalysis #VentureCapital #VC
    Ten months after shutting down its physical office Ten months after shutting down its physical offices, engineering talent company, @thisisandela, is now going global.

This means that the company is now onboarding engineers from every country around the world.
.
.
.
#programming #programmer #programmers #programminglife #programmerlife #programmerhumor #programmingmemes #programmingisfun #programmingjokes #programminghumor #developer #developers #developerlife #softwaredeveloper #softwareengineer #softwareengineering #softwaredevelopment #coder #coders #coderlife #coding #codinglife #codingisfun #webdevelopment #insynouttech #webdevelopers #informatik #programmieren #computerscience #processor
    For many people, managing money and knowing the ri For many people, managing money and knowing the right opportunities to invest in is still a challenge. A survey of over 2,000 youths in Nigeria, Kenya, Uganda, Tanzania and Cote D’Ivoire by Geopoll revealed that more young Nigerians only save after spending than their counterparts in other countries.

More youths in Tanzania and Uganda set aside a fixed amount to save than in Nigeria and Ivory Coast, who are more likely to save what remains after spending

The popularity of apps like @Piggybankng and @Cowrywise has made more people curious about saving, investing and creating a financial strategy to grow their money. However, there is need for more apps that take a more deliberate and friendly approach towards gaining financial intelligence and map out a sustainable path to monetary stability.

This is where Fundall comes in. @get_Fundall is a fintech service whose app is available for download on android and iOS.
.
.
.
.
.
#Fundall #LifeStyleCard #FinancialPlanning #Africa #Fintech #Finance #Financial #Nigeria #SaveMoney #Payments #Nigeria
    @theflutterwave has partnered with American eComme @theflutterwave has partnered with American eCommerce fraud detection firm, Forter to enable merchants to identify legitimate buyers on their Flutterwave platforms. This effort is aimed at detecting fraudsters masking themselves as legitimate buyers on the payment platform.

The partnership touted as the first of its kind in Africa will enable merchants to accurately identify legitimate buyers from fraudsters in the hopes of increasing transaction approvals and reducing friction in the purchasing experience, all without the fear of fraud.

Read more on Technext.ng
.
.
#ecommerce #crypto #marketplace #Merchants #fraudsters #Fraud
    Things are gradually returning to normal as the nu Things are gradually returning to normal as the number of covid-19 cases continues to fall. Although it may take a while before we hug people or shake hands without second thoughts, things are getting better.

Only 523 new cases were recorded between April 6 and 13. This is a slight increase compared to the 497 people that tested positive over the previous week. Two weeks earlier, Technext reported that 584 people tested positive.

The numbers show a sustained decrease in the spread of infections across the country. Indeed the Lagos state government is now confident enough to allow event centres and relaxation centres to increase their crowd capacity. Along with that, here are other developments during the week.

Read more on Technext.ng
.
.
.

#COVID19 #Nigeria #Education #Vaccine #Government
    Today, @Google unveils a Doodle to posthumously ma Today, @Google unveils a Doodle to posthumously mark the 74th birthday of Nigerian music legend and highlife maestro Oliver de Coque, one of Africa’s most prolific recording artists of all time.

The Doodle, created by Lagos-based graphic artist and illustrator @OhabTBJ, pays tribute to the guitarist who died in June 2008 at the age of 61, following a heart attack. The creative inspiration was drawn from De Coque’s love for the guitar, his energetic performance style, his unique music brand, and his love of tradition and culture.
.
.
.
.
.
.
#afrobeats #music #music #musiclover #naijamusic #musician #musicvideo #musicislife #musicproducer #musically #musicblog #musicjunkie #Africangiant #musicjournalism
    Load More... Follow on Instagram

    Random News

    • OPay Expands Again, Launches Otrike for Tricycle Users in Aba
      OPay Expands Again, Launches Otrike for Tricycle Users in Aba
      August 9, 2019 0

      Opera founded startup OPay has launched a tricycle hailing service OTrike in Aba just months after it launched its ...

      Read More
    Copyright 2020 technext.ng | Privacy Policy | Media Policy