How to Buy Nokia Stock [2024]

Summary: Nokia, the iconic brand behind the indestructible phones of the early naughts, is not just a relic of the past. Still making waves in the telecommunications world, it’s listed on the Helsinki Stock Exchange under NOKIA and NYSE under NOK. For those looking to own a piece of mobile history, Nokia shares can be snatched up on platforms like eToro.

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About Nokia

Nokia Corporation (NYSE: NOK, HEL: NOKIA) is a Finnish multinational telecommunications, information technology, and consumer electronics company. Established in 1865 as a humble pulp mill in the Tampere region of Pirkanmaa, Nokia evolved over the decades, venturing into various industries before spearheading the telecommunications frontier in the 1990s.

The company played an instrumental role in developing the GSM, 3G, and LTE mobile standards, dominating as the top global mobile phone vendor for a decade starting in 1998. However, the late 2000s saw challenges and managerial missteps, culminating in the sale of its mobile segment to Microsoft in 2014.

Refocusing its mission, Nokia dove into telecommunications infrastructure, the Internet of Things (IoT) and even explored virtual reality and digital health. A significant turnaround came in 2016 when the Nokia brand re-entered the mobile market through a licensing deal with HMD Global. As of 2018, Nokia stood as the world’s third-largest network equipment manufacturer, cementing its legacy and adaptability in the tech world.

Nokia is publicly listed on the Helsinki Stock Exchange under the stock symbol NOKIA and the New York Stock Exchange (NYSE) under NOK.

How to buy Nokia stock – Step-by-step process

To buy Nokia stock, follow the steps outlined below:

Choose a broker;
Register an account;
Fund your account;
Buy Nokia stock;
Periodically monitor your position in Nokia and adjust your portfolio accordingly.

Step 1: Choose a broker

To kickstart your investment journey, register with a trustworthy broker. While numerous platforms will be available, selecting one that matches your financial objectives and caters to your specific investment preferences and requirements is crucial.

To buy Nokia stock, we recommend using eToro, which is fully regulated and offers a variety of features, including:

Commission-free stock and ETF trading;
2,000+ stocks from 17 exchanges;
Fractional shares;
User-friendly platform.

Highly Rated Stock Trading & Investing Platform

Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
Copy top-performing traders in real time, automatically.
eToro USA is registered with FINRA for securities trading.

30+ million Users

Get Started

How to choose the best online broker?

Here’s a quick guide to help you choose the best online broker:

Determine your needs: Identify your investment goals. Are you a day trader, a buy-and-hold investor, or somewhere in between?
Research fees: Compare commission rates, account maintenance fees, and any hidden charges. Opt for a broker that offers competitive pricing without compromising on service quality;
Platform usability: Choose a broker with an intuitive trading platform;
Investment options: Ensure the broker provides access to the investments you’re interested in, be it stocks, bonds, ETFs, mutual funds, or more complex derivative instruments like options and futures;
Fractional shares: Determine if the broker allows you to buy and sell fractional shares, a game-changer for diversifying a portfolio on a budget;
Research and tools: The best brokers offer advanced research tools, real-time data, and analysis to help you make informed decisions;
Customer service: Check the responsiveness and expertise of their support team. Look for brokers that offer multiple channels of communication;
Security: Ensure the broker has strong cybersecurity measures and insurance protection and is regulated by relevant financial authorities;
Educational resources: Especially beneficial for beginners, some brokers offer webinars, tutorials, and articles to enhance your investment knowledge;
Account minimums: Some brokers require a minimum amount to open an account. Choose one that aligns with your budget:
Reviews and reputation: Check online reviews and ask for recommendations. A broker’s reputation can provide insight into user satisfaction and trustworthiness.

Step 2: Open an account

The next phase in your investment journey is to set up an account with your selected broker and usually includes the subsequent steps:

Access the service: Navigate to the broker’s website or mobile app;
Sign-up: Select the “Open Account” or “Sign Up” option;
Input information: Enter the necessary personal and financial details. Some platforms might also inquire about your investment background and goals;
Wait for approval: Allow some time for the broker to validate your provided information;
Secure your account: Establish a robust password and enable two-factor authentication, if offered.

Step 3: Fund your account

Once your trading account is up and running, you’ll need to add funds to it. Head to the “deposit” or “add funds” section of the broker’s interface. Typically, you’ll encounter various payment methods, including bank transfers, credit/debit card payments, or third-party payment services like PayPal (PYPL).

Be aware of any associated charges or minimum deposit stipulations before proceeding. Once you’ve made the deposit, the processing time can vary, anywhere from a few minutes to a couple of days, depending on your payment method and the broker’s processing speed.

Step 4: Place your order

Having funded your account, you’re set to purchase Nokia stock. Here’s how you proceed:

Locate the stock: Find Nokia using its ticker symbol;
Pick order type: Decide on the kind of order you want – be it market, limit, stop-loss, or any other options provided;
Determine quantity: Indicate either the number of shares you’re buying or the total amount you’re investing;
Examine details: Before proceeding, ensure everything is correct;
Finalize: Press the “Buy” or “Trade” button to initiate the purchase;
Wait for completion: The broker will process the order. You will receive a confirmation upon order finalization.

Step 5: Monitor your investment

Monitoring your investment in Nokia requires both regular check-ins and a broader understanding of the telecommunications and tech landscape. Firstly, it’s crucial to stay updated with Nokia’s quarterly financial reports, official announcements, and significant market news that could influence the company.

In addition, be vigilant about the company’s main competitors in the telecommunications sector, such as Ericsson (NASDAQ: ERIC), Huawei, Samsung, and Qualcomm (NASDAQ: QCOM). The trends and performances of these firms can provide insights into general industry movements that might impact Nokia as well.

Lastly, stay informed about major indices relevant to the tech and telecommunications arena. This broader view will help discern whether shifts in Nokia’s stock value arise from company-specific events or wider market trends.

Nokia stock price today

Pros and cons of buying Nokia stock

Pros

Legacy and reputation: Nokia has a rich history in telecommunications and has been a trusted name for decades. Its brand recognition can be an asset in any new ventures or market expansions;
Diverse portfolio: Nokia has diversified into several tech areas, including telecommunications infrastructure, digital health, and IoT;
Involvement in 5G: Nokia has been actively involved in the rollout of 5G networks. As global demand for 5G infrastructure grows, Nokia could stand to benefit significantly;
Strong patent portfolio: Nokia holds numerous essential patents, especially in mobile communications. This portfolio provides a steady stream of licensing revenue;
Strategic partnerships: Nokia’s collaborations, such as the one with HMD Global for reintroducing Nokia-branded phones, indicate adaptability and a potential for growth through partnerships.

Cons

Intense competition: The telecommunications and tech industries are rapidly evolving, with several major players. Nokia faces stiff competition from companies like Huawei, Ericsson, and Samsung, especially in the 5G space;
Evolving tech landscape: Rapid technological advances mean that companies must continually innovate. Nokia’s ability to stay ahead or even keep pace is not guaranteed;
Regulatory challenges: Nokia, like other tech giants, can face regulatory challenges, especially given the global nature of its operations and ongoing geopolitical tensions, particularly involving 5G technology;
Market volatility: The tech sector can be particularly volatile, influenced by global events, technological disruptions, and more. This could result in significant stock price fluctuations.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy Nokia stock