Nokia (NOK) perpetual market

Nokia is a Finnish telecommunications company with a long and storied history, best known to the public as the maker that once dominated the mobile phone market in the late 1990s and 2000s before losing that business to the smartphone era. Founded in 1865 as a paper mill, Nokia reinvented itself many times, and today it is primarily a maker of telecommunications network equipment rather than consumer phones. It supplies the hardware and software that telecom operators use to build and run their mobile and fixed networks, competing with rivals such as Ericsson and Huawei, and it is a major player in the global rollout of 5G infrastructure. Nokia also licenses a large portfolio of patents and lends its brand to phones made by another company. Its fortunes now depend on telecom operators' spending on network upgrades, and it is seen as a value-oriented, dividend-paying play on global communications infrastructure.