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Nokia Named as One of the Best Managed Companies in the World by Major Publication
October 14, 1997
Nokia today was named one the best managed companies in the world by Industry Week as part of the publication’s annual 100 Best Managed Companies listing. The award was presented at Industry Week’s Global Leadership Forum held in Chicago.
Nokia was selected for the second annual listing because of the company’s overall positioning in the mobile phone market, its dedication to research and development and its continuing efforts to streamline operations in order to focus more on its global telecommunications business.
Companies for the top 100 list are selected from the Industry Week 1000, which identifies the world’s highest ranking publicly held manufacturing companies. The top five industries represented are electronic/electric equipment, pharmaceuticals, computer equipment, chemicals and food. The magazine looked at each company’s performance in the following areas: net income, total revenues, total assets, total capital, cost of sales, total inventory, and net accounts receivable. Also analyzed were companies’ performance in profit margin, leverage, turnover, return on assets, and return on equity over the last four years.
Those considering the candidates were business leaders, analysts, academicians and Industry Week editors who chose the 200 company short list. Companies completed a questionnaire on best practices for each of the twelve criteria. Final selection was made by the Industry Week editors.
Headquarted in Finland, Nokia is a leader in digital technologies including mobile phones, cellular and fixed telecommunications networks, wireless data solutions and multimedia terminals. With sales in approximately 130 countries, net sales totaled $8.5 billion in 1996. Nokia employs more than 34,000 people in 45 countries. Nokia’s shares are listed in Helsinki, New York, London, Stockholm, Frankfurt and Paris.
Nokia is the title sponsor of the Nokia Sugar Bowl college football classic held annually in New Orleans.
Further information:
Micaela Tucker-Kinney
Communications Manager, Nokia Americas
Tel. + 1 972 257 9307
Mr. Bill Maguire
Crescent Communications
Tel. + 1 770 698 8650 ext. 119
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