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Business

Digitize or die, speakers tell Japan at global tech summit

Panelists hold a discussion during the Global ICT Summit in Tokyo on June 7.

TOKYO Over the course of more than 150 years since its foundation, Finnish communications giant Nokia has gone through a series of transformations through innovation. Started as a manufacturer of paper pulp and rubber boots, the company shifted its priority to technology and at one point captured around 40% of the global market for mobile phones.

Businesses must constantly change to survive, Nokia Chairman Risto Siilasmaa -- whose company has since sold its mobile phone operations and become a world-leading maker of communications equipment -- said at the Global ICT Summit, held in Tokyo on June 6-7. The annual event, sponsored by Nikkei Inc. and Japan's Ministry of Internal Affairs and Communications, focuses on new technology trends, and this year's theme was "Digital Transformation -- Changing Business and Changing Manufacturing."

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