Nokia the phones are completely distinct from Nokia the telecoms infrastructure provider. HMD licenses the Nokia name from the telecoms equipment manufacturer.
3 big deals happened at Nokia. They sold the devices business to MS. They acquired the Siemens half of Nokia Siemens Networks. They acquired Alcatel Lucent (French Alcatel and American descendant of Bell Lucent) and merged it with what was NSN. They sell every component of the modern networking stack from 5g antennas to undersea cables.
3 big deals happened at Nokia. They sold the devices business to MS. They acquired the Siemens half of Nokia Siemens Networks. They acquired Alcatel Lucent (French Alcatel and American descendant of Bell Lucent) and merged it with what was NSN. They sell every component of the modern networking stack from 5g antennas to undersea cables.