Nokia Corporation is a multi-national communications corporation, focused on the key growth areas of wired and wireless telecommunications. Nokia is currently the world's largest manufacturer of mobile telephones, with a global device market share of approximately 38% in Q2 of 2007. Nokia produces mobile phones for every major market segment and protocol, including GSM, CDMA, and W-CDMA (UMTS);. The corporation also produces telecommunications network equipment for applications such as mobile and fixed-line voice telephony, ISDN, broadband access, voice over IP, and wireless LAN.
Nokia's headquarters are located in Espoo, a neighbouring city of Finland's capital Helsinki. It has R&D, manufacturing, and sales representation sites in many continents throughout the world. Nokia Research Center, the corporation's industrial research laboratories, has sites in Helsinki; Tampere; Toijala; Tokyo; Beijing; Budapest; Bochum; Palo Alto, California and Cambridge, Massachusetts. Major production factories are located at Salo, Finland; Beijing, China; Dongguan, China; Chennai, India; Komárom, Hungary and the Ruhr region at Germany. In March 2007, Nokia signed a memorandum with Cluj-Napoca City Council, Romania to open a new plant near the city in Jucu commune. Nokia's Design Department remains in Salo.
Nokia plays a very large role in the economy of Finland. Nokia is by far the largest Finnish company, accounting for about a third of the market capitalization of the Helsinki Stock Exchange (OMX Helsinki);; a unique situation for an industrialized country. It is an important employer in Finland and several small companies have grown into large ones as Nokia's subcontractors. Nokia increased Finland's GDP by more than 1.5 percent in 1999 alone. In 2004 Nokia's share of the Finland's GDP was 3.5 percent and accounted for almost a quarter of Finland's exports in 2003. In 2006, Nokia generated revenue that for the first time exceeded the state budget of Finland. This has led some to refer to Finland as "Nokialand."