Nokia said on Wednesday it had bought the world’s largest application programming interface (API) hub and marketplace from US company Rapid as it seeks to boost revenues from its 5G and 4G networks.
Like other telecom gear makers, Finland’s Nokia has been looking for ways to monetise its 5G equipment or diversify its market, as it hopes to attract investments linked to the rise of artificial intelligence.
Nokia said it will own the U.S. tech start-up’s technology and research and development unit under the deal, enabling its clients to integrate their networks, control their API usage and collaborate with the platform’s developer base.
API are strings of code which enable standardized communication, exchange of data and functionality between software components.
Their use on advanced 5G networks provides faster, safer and more accurate access to data such as a users’ location or connectivity status.
Nokia did not disclose financial details of the deal.
About Nokia
Nokia is a Finnish multinational telecommunications, information technology, and consumer electronics company. Founded in
1865 as a paper mill, Nokia diversified into rubber products, cables, and electronics in the 20th century. In the 1980s, Nokia entered the telecommunications industry, focusing on mobile phones and networking equipment.
Nokia’s rise to prominence began with its iconic mobile phones, such as the Nokia 3310 and Nokia 1100, which dominated the global market in the 1990s and early 2000s. The company’s innovative designs, durability, and user-friendly interfaces made Nokia a household name. However, Nokia struggled to adapt to the smartphone revolution, led by Apple’s iPhone and Android devices, and its market share declined significantly.
In recent years, Nokia has transformed into a leading provider of network infrastructure, software, and services. After selling its mobile device division to Microsoft in 2014, Nokia focused on 5G technology, IoT, and digital health. Today, Nokia is a major player in the global telecommunications landscape, partnering with operators and enterprises to build and manage high-performance networks. The Nokia brand continues to evoke nostalgia and trust, symbolizing innovation, reliability, and Finnish design excellence.
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