Tuesday, August 28, 2012

Economist: Nokia dominates much more than Volvo

From: Aug 27th 2012, 12:50 by The Economist online

Nokia's dominance of Finland appears to be a one-off
SOME countries' fortunes are incredibly entwined with a single company. The case of Nokia, a Finnish mobile-phone manufacturer, is well documented: it contributed a quarter to Finnish GDP growth between 1998 and 2007. But do any other countries rely so heavily on a single company? Using a crude comparison of a company's annual revenue and its domicile's economic output, The Economist has identified the firms with the greatest national clout across 53 markets. Energy firms dominate the list because of their enormous throughput. Others feature because of their choice of domicile: ArcelorMittal, a steel company, has few of its operations in Luxembourg. Strip out these kinds of companies and only Hon Hai, a Taiwanese electronics manufacturer, ranks above Nokia. But most of Hon Hai's employment is in China, and its share of national patent applications last year was just 8%, compared with Nokia's 27%. The importance of Nokia to Finland looks like a one-off. 
See full article here

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