“陨落不死”的诺基亚，市值突破4000亿了 \u003cdiv class=\"rich_media_content\"\u003e\u003csection data-exeditor-arbitrary-box=\"image-box\" style=\"-webkit-tap-highlight-color: transparent; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); box-sizing: border-box !important; clear: both; color: rgba(0, 0, 0, 0.9); font-size: 17px; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: 0.544px; line-height: 1.75em; margin: 0px 8px; max-width: 100%; min-height: 1em; orphans: 2; outline: 0px; overflow-wrap: break-word !important; padding: 0px; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-transform: none; visibility: visible; white-space: normal; widows: 2; word-spacing: 0px\"\u003e\u003c!--IMG_0--\u003e\u003c/section\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003c!--AIPOS_0--\u003e“上天关了一扇门后又开了一扇窗”，但问题是，当那扇窗打开的时候，我们还坐在牌桌上吗？\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cbr/\u003e\u003c/p\u003e\u003csection data-exeditor-arbitrary-box=\"wrap\" style=\"-webkit-tap-highlight-color: transparent; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); box-sizing: border-box !important; caret-color: rgb(51, 51, 51); color: rgb(51, 51, 51); font-size: 16px; font-style: normal; font-variant-caps: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: -0.2px; line-height: 1.75em; margin: 0px 8px; max-width: 100%; orphans: 2; outline: 0px; overflow-wrap: break-word !important; padding: 0px; text-align: right; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-size-adjust: inherit; text-transform: none; visibility: visible; white-space: normal; widows: 1; word-spacing: 0px\"\u003e\u003cp\u003e\u003cstrong\u003e\u003cspan style=\"color: rgb(0, 0, 0)\"\u003e\u003cspan style=\"font-size: 14px\"\u003e\u003cspan style=\"background-color: transparent\"\u003e\u003cspan style=\"letter-spacing: -0.2px\"\u003e文 | 浩然\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003c/section\u003e\u003csection data-exeditor-arbitrary-box=\"wrap\" style=\"-webkit-tap-highlight-color: transparent; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); box-sizing: border-box !important; caret-color: rgb(51, 51, 51); color: rgb(34, 34, 34); font-size: 17px; font-style: normal; font-variant-caps: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: -0.2px; line-height: 1.75em; margin: 0px 8px; max-width: 100%; orphans: 2; outline: 0px; overflow-wrap: break-word !important; padding: 0px; text-align: right; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-size-adjust: inherit; text-transform: none; visibility: visible; white-space: normal; widows: 1; word-spacing: 0px\"\u003e\u003cp\u003e\u003cspan style=\"color: rgb(34, 34, 34)\"\u003e\u003cspan style=\"font-size: 17px\"\u003e\u003cspan style=\"background-color: transparent\"\u003e\u003cspan style=\"letter-spacing: -0.2px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003c/section\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px; min-height: 1em; padding: 0px; text-align: right; text-indent: 0em\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgb(0, 0, 0)\"\u003e\u003cspan style=\"font-size: 14px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e本文为商隐社原创文章，转载请联系后台\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 17px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003csection data-exeditor-arbitrary-box=\"image-box\" style=\"-webkit-tap-highlight-color: transparent; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); box-sizing: border-box !important; clear: both; color: rgba(0, 0, 0, 0.9); font-size: 16px; font-style: normal; font-variant-caps: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-variant-numeric: normal; font-weight: 400; letter-spacing: -0.2px; line-height: 1.75em; margin: 0px 8px; max-width: 100%; min-height: 1em; orphans: 2; outline: 0px; overflow-wrap: break-word !important; padding: 0px; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px\"\u003e\u003c!--IMG_1--\u003e\u003c/section\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: center; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003c!--IMG_2--\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003csection data-exeditor-arbitrary-box=\"wrap\" style=\"text-align: center\"\u003e\u003cp\u003e\u003cstrong\u003e\u003cspan style=\"text-decoration: underline\"\u003e\u003cspan style=\"font-size: 17px\"\u003e“陨落不死”的诺基亚\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003c/section\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e当今这个商业世界，群雄并起，既有谷歌、英伟达、微软、阿里、字节等老牌霸主，又有OpenAI、Anthropic等科技新贵，他们竞逐着AI技术，时不时让人窥见新世界的剪影。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e相比而言，诺基亚这家公司似乎代表着一个早已远去的旧时代，即便被人提起，也往往是放在“\u003c!--VERTICAL_CARD_BEGIN_0--\u003e诺基亚时刻\u003c!--VERTICAL_CARD_END_0--\u003e”的语境中，成为企业轰然坠落的代名词。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e甚至随着2013年诺基亚手机黯然退出市场，以及那句“我们并没有做错什么，但不知为什么，我们输了”，这家企业在很多人眼中已经“死了”。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e所以这几天关于诺基亚的新闻再次出现时，很多人感觉很惊讶：诺基亚股价创16年来新高，市值已突破600亿美元（合人民币近4000亿元），年内涨幅超60%！\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003csection data-exeditor-arbitrary-box=\"image-box\" style=\"-webkit-tap-highlight-color: transparent; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); box-sizing: border-box !important; clear: both; color: rgba(0, 0, 0, 0.9); font-size: 17px; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: 0.544px; line-height: 1.75em; margin: 0px 8px; max-width: 100%; min-height: 1em; orphans: 2; outline: 0px; overflow-wrap: break-word !important; padding: 0px; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-transform: none; visibility: visible; white-space: normal; widows: 2; word-spacing: 0px\"\u003e\u003c!--IMG_3--\u003e\u003c/section\u003e\u003csection data-exeditor-arbitrary-box=\"wrap\" style=\"-webkit-tap-highlight-color: transparent; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); box-sizing: border-box !important; clear: both; color: rgba(0, 0, 0, 0.9); font-size: 17px; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: 0.544px; line-height: 1.75em; margin: 0px 8px; max-width: 100%; min-height: 1em; orphans: 2; outline: 0px; overflow-wrap: break-word !important; padding: 0px; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; visibility: visible; white-space: normal; widows: 2; word-spacing: 0px\"\u003e\u003cp\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003c/section\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e这个市值相当于1.5个百度，虽然与其巅峰期近2万亿元人民币的水平不可同日而语，但作为一家“起死回生”的企业，已是相当不易。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e市场为何会重估这家“上古神登”？\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e对诺基亚了解的人可能知道它在失去最引以为傲的手机业务后已蜕变成一家电信设备商，甚至成为仅次于华为的全球第二大电信设备厂商，但这并不是市场重估诺基亚的原因。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e主要还是它手握通往AI时代的一张重要“船票”：\u003c!--VERTICAL_CARD_BEGIN_1--\u003e光通信\u003c!--VERTICAL_CARD_END_1--\u003e。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e随着人类向AI时代进发，AI大模型、自动驾驶、具身智能等都对数据传输的速率、容量和稳定性提出了更高要求，传统电信号传输数据的方式已达到了物理极限，GPU集群的算力就像大量拥堵在羊肠小路上的跑车。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e而光通信是以光信号传输信息，不仅能高带宽、低延迟的传输，而且能在长距离、大容量传输中降低能耗，自然而然就成为输送AI算力的“高速公路”。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e从光通信产业链来看，上游由光芯片、电芯片及结构件等组成，高端光、电芯片都是美国、日本企业占优势，Coherent、Lumentum、三菱电机、住友电工占据高端光芯片市场，博通、Marvell等几乎垄断高端电芯片市场。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c!--MID_AD_0--\u003e\u003c!--EOP_0--\u003e\u003c/p\u003e\u003c!--PARAGRAPH_0--\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e中游是光组件、光模块封装，中国企业已占据全球光模块封装的半壁江山，这两年股价大爆发的“易中天”（新易盛、中际旭创、天孚通信）就是光组件、光模块封装头部厂商。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e下游最主要有两个方向，一是华为、\u003c!--SECURE_LINK_BEGIN_0--\u003e诺基亚\u003c!--SECURE_LINK_END_0--\u003e、爱立信等光通信设备厂商，他们生产的设备主要流向通信市场，二是亚马逊、谷歌、Mate、阿里、字节等互联网大厂建设的数据中心。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e在这条产业链中，诺基亚的光通信设备市场份额排全球第二，还是仅次于“大魔王”华为，第三是在北美市场与诺基亚缠斗的Ciena。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003csection data-exeditor-arbitrary-box=\"image-box\" style=\"-webkit-tap-highlight-color: transparent; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); box-sizing: border-box !important; clear: both; color: rgba(0, 0, 0, 0.9); font-size: 17px; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: 0.544px; line-height: 1.75em; margin: 0px 8px; max-width: 100%; min-height: 1em; orphans: 2; outline: 0px; overflow-wrap: break-word !important; padding: 0px; text-align: center; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-transform: none; visibility: visible; white-space: normal; widows: 2; word-spacing: 0px\"\u003e\u003c!--IMG_4--\u003e\u003c/section\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: center; text-indent: 0px\"\u003e\u003cspan style=\"color: rgb(136, 136, 136)\"\u003e\u003cspan style=\"font-size: 14px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e图源：美国银行研报\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e而且，相比产业链上的其他企业，华为、诺基亚不只是卖设备或者卖模块，他们在芯片、光模块上也有研发能力，在整套系统上的垂直整合能力更强。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e此外，诺基亚在下一代光纤技术(\u003c!--VERTICAL_CARD_BEGIN_2--\u003eXGS-PON\u003c!--VERTICAL_CARD_END_2--\u003e)市场以35%的份额位居全球第一。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e所以诺基亚CEO说北美十大云服务提供商中有九家已经转向诺基亚的技术，并不是吹牛。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e去年诺基亚的光网络业务全年增长19%，AI和云客户已占到网络基础设施部门销售额的14%。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e诺基亚的“脊梁”手机业务被打断后，它蜕变成了电信设备商，而现在，它又在悄悄往“AI光通信服务商”演变。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003c!--SECURE_LINK_BEGIN_1--\u003e黄仁勋\u003c!--SECURE_LINK_END_1--\u003e也为诺基亚的爆发加了一把火，去年10月\u003c!--SECURE_LINK_BEGIN_2--\u003e英伟达\u003c!--SECURE_LINK_END_2--\u003e宣布向诺基亚投资10亿美元，双方携手推进\u003c!--VERTICAL_CARD_BEGIN_3--\u003eAI-RAN\u003c!--VERTICAL_CARD_END_3--\u003e创新与6G转型，黄仁勋将通信网络产业定义为“价值3万亿美元的产业”。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e黄仁勋翻出诺基亚这颗“活化石”并非恋旧，因为算力越提升，通信技术就越会成为瓶颈，网络延迟过高会导致算力空转，数据丢包更是直接导致任务中断，而通信是英伟达的短板，倒逼着黄仁勋和整个AI领域都重新审视通信技术的价值，也使得诺基亚获得了价值重估。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c!--MID_AD_1--\u003e\u003c!--EOP_1--\u003e\u003c/p\u003e\u003c!--PARAGRAPH_1--\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e有人评论说，经过了13年，诺基亚从“光站在那里”到“站在光里”。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e但诺基亚从来没有“光站在那里”，翻开诺基亚13年的发展，握有光通信这张牌的背后，是这家企业在遭遇“跳悬崖般的坠落”之后仍怀着极大的信念拼凑起一个“新诺基亚”：\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003c!--AIPOS_1--\u003e买断通信设备业务、收购阿尔卡特朗讯、拿下\u003c!--VERTICAL_CARD_BEGIN_4--\u003e贝尔实验室\u003c!--VERTICAL_CARD_END_4--\u003e、吞下光网络设备制造商Infinera。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e即便诺基亚股价创16年新高，也鲜有媒体报道，因为当今商业世界的强者太多了，市值破5000亿、破万亿人民币的企业都有很多，新锐科技新贵也是“你方唱罢我登场”，聚光灯下满是他们的身影。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e与之相比，诺基亚无论业绩、市值还是在科技圈的地位都显得太普通，它被重估也没有演绎出一场吸引眼球的“王者归来”，它只是发生着一些并不张扬、意义却挺大的变化，如此而已。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e但我恰恰认为，陨落不死、迭代永续的诺基亚更值得一个头条。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cbr/\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: center; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 17px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003c!--IMG_5--\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: center; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"text-decoration: underline\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 17px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e拼凑一个“新诺基亚”\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cbr/\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e时间拨回到2013年，在被苹果和三星不断挤压后，诺基亚手机的市场份额从巅峰时期的超40%跌落到3%，已经是第三年亏损了，那年的9月2日，诺基亚把手机业务以72亿美元的价格卖给了微软。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e当时，全球财经媒体几乎一致用“诺基亚死了”作为标题，绝大多数人都认为，失去最核心业务的诺基亚死亡只是时间问题。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e但在出售手机业务的前一个月，诺基亚也完成了一笔很少被人关注的交易：从西门子手中买下了诺西通信的另一半股权。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e这是怎么一回事呢？\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e之前西门子和诺基亚都想发展3G、4G无线通信技术，但由于投资巨大，两家都不想独自承担，于是就把各自的网络业务板块拿出来组建了一家合资公司，也就是诺西通信。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e但诺西通信后来发展得并不好，一是合资公司看似强强联合，实际上在双方那里都不是“亲儿子”，而是“远亲”，很容易陷入两不管的境地，经营得并不好；\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e二是电信业务竞争太激烈了，当时全球第一是爱立信，增长最快的是华为。诺西通信成本高昂，人员冗余，过去几年累计亏损了几十亿美元。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e所以无论西门子还是诺基亚，对诺西通信这家持续“吸血”的合资企业早就忍无可忍了，只是没遇到合适的价格，双方只能各自再注资5亿欧元，对诺西通信进行大规模重组——\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e削减成本；把利润率更高的美国、日韩作为研发和运营核心区；还有押注5G和云，为诺基亚后来吃到5G红利埋下了伏笔。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e经过这轮重组，再加上移动互联网的崛起对带宽要求越来越高，刺激了市场对新一代移动宽带基础设施的需求，诺西通信开始恢复盈利。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e西门子对通信业务已经失去兴趣了，打算出售手中的股份，彼时诺基亚的CFO伊哈莫蒂拉提出一个假设：\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003ci\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e“如果我们买断西门子所持有的股份，并保留诺西通信，结果会怎样？”\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/i\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e这给诺基亚提供了一个新的可能——以诺西通信为基础再造一个全新的诺基亚。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e但这在当时来看有点大胆，因为诺西通信只能提供整个网络基础设施中移动网络部分的解决方案，无法交付端到端的解决方案。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e即便如此，诺基亚管理层和董事会还是认为买断诺西通信是一笔只赚不赔的买卖，因为西门子急于出手，价格低于诺西通信的实际价值，以后即便转手也能获利，而且拿在手里就有另一种可能。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e最终，诺基亚以17亿欧元的价格拿下了诺西通信，此时诺基亚手中只剩三项业务：诺西通信的网络业务，HERE地图业务，以及负责专利授权的研发部门。其中网络业务是核心，贡献了诺基亚总营收的约80%。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e三个业务有不同的商业模式，不同的客户群体，不同的营销模式。怎么把它们统筹在一起成了难题。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e时任诺基亚董事会主席李思拓经过思考后认为，诺基亚始终做的是连接，之前的手机业务是人与人的连接，而诺西通信做得其实是设备间的互联，之后无论是万物互联还是AI时代，诺西通信都可以是“数字神经系统”，可以作为新诺基亚的中枢部门。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c!--MID_AD_2--\u003e\u003c!--EOP_2--\u003e\u003c/p\u003e\u003c!--PARAGRAPH_2--\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e而HERE地图业务指示数字神经系统需要知道的事情发生的地理位置，高端技术部门则拥有庞大的专利组合，能提供技术支持。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e此时，一个大机遇的出现让诺基亚有了彻底转变的机会——全球排名第三的电信设备商阿尔卡特-朗讯正在盈亏线上挣扎，正寻求并购方。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e这简直就是“上帝关了一扇门后又开了一扇窗”，上文提到，诺西通信只有移动宽带技术和服务，而阿尔卡特-朗讯有着完整的通信基础设施产业链，移动网络业务反而是劣势，两者是“天作之合”。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e顺便多说一句，光传输能力就是阿尔卡特-朗讯带给诺基亚的。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e更重要的是，阿尔卡特-朗讯旗下还有通讯领域的“殿堂级”研究机构：贝尔实验室。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e贝尔实验室发明了许多基础技术，支撑着整个信息通信网络和所有数字化设备及系统。这些研究曾获得八项诺贝尔奖、两项图灵奖、三项“日本国际奖”以及大量国家科学与工程奖项。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e对于阿尔卡特-朗讯来说，诺基亚也是最佳并购方，当时爱立信正在搞战略收缩，将核心聚焦于无线通信，对阿尔卡特-朗讯的固网、IP路由、光通讯不感兴趣。而华为受阻于政治壁垒，更没可能收购这家主要市场在欧美的法国企业。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e到了2016年，诺基亚以换股方式（每股阿尔卡特-朗讯股票换0.55股诺基亚新发股票）将阿尔卡特-朗讯收入囊中，交易规模达156亿欧元。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e在此之前诺基亚还以25亿欧元的价格把HERE地图出售给了宝马、奥迪和戴姆勒联合组建的财团，为并购阿尔卡特-朗讯之后的整合准备弹药。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e诺基亚由此成为全球第二大电信设备商，也是欧美唯一一家涵盖5G网络全元素，包括无线电、核心网、云、管理、自动化等端到端产品组合的设备商。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e诺基亚也有不少5G专利，根据欧洲电信标准化协会数据，截至2026年，诺基亚拥有7287项5G标准必要专利，仅次于华为、高通和LG。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e所以诺基亚连续多年吃到了5G建设的红利，比如在巅峰期的2022年，诺基亚营收249亿欧元，净利润为42.6亿欧元（按当年汇率约合人民币314亿元）。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e值得一提的是，除了靠电信业务赚钱外，诺基亚还默默向全世界收取专利费，甚至被称为“专利流氓”。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e过去30多年诺基亚在研发的投入至少得有上万亿人民币，在2G-5G通信领域都有相当多专利积累，再加上对贝尔实验室的整合，让很多科技企业很难绕开诺基亚的专利。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e诺基亚早年起诉苹果，拿到每年坐收1亿欧元的专利费；后起诉三星，每年进账2亿欧元；OPPO、vivo、联想、华硕等也都被诺基亚起诉过。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e甚至车企也难逃诺基亚的起诉，因为汽车越智能，联网就越多，就越需要通信技术，也就碰到诺基亚了。2019年诺基亚起诉奔驰，使奔驰被迫每辆车向诺基亚支付15美元的4G专利许可费；去年诺基亚还起诉了吉利，索要每车49元的专利费。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c!--MID_AD_3--\u003e\u003c!--EOP_3--\u003e\u003c/p\u003e\u003c!--PARAGRAPH_3--\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e2020-2025 年期间，诺基亚只靠专利收费就能为企业每年贡献6-12 亿欧元营业利润，占集团可比营业利润的30%以上，是支撑诺基亚战略转型的核心现金流来源。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e这几年，5G建设的高峰期已过，诺基亚业绩明显下降，去年其营收为198.9亿欧元，净利润6.5亿欧元（约合52亿元人民币）。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e去年诺基亚净利润低还有一个重要原因就是重组Infinera付出了一些成本——它在2024年6月以23亿美元的价格收购了光通信设备制造商Infinera。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e诺基亚从这笔交易中又获得了磷化铟集成、半导体等光通信核心技术的拼图，使其成为全球第二大光网络设备供应商。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: center; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 17px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003c!--IMG_6--\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: center; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"text-decoration: underline\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 17px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e总结\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cbr/\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003c!--AIPOS_2--\u003e在向AI时代进发的企业中，诺基亚不算突出，也并不耀眼，它还面临着相当大的挑战——原有移动通信业务在萎缩，而光通信竞争激烈且前路不确定性太大。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e但这样一家“陨落不死”的企业仍在不断“折腾”，还能拿到AI赛场的入场券，这种“进化的力量”本身就让人尊敬。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e整个诺基亚的历史长达160多年，从最初的造纸，再到化工、橡胶，从电缆、制药到天然气、石油、军事……直到1960年以后才开始接触消费电子，其间无数次大大小小的危机，促使其不断转型和复兴。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e诺基亚给我们带来了一个重要的商业思考：企业像人一样也有生老病死，再强大的巨头也有难以克服的局限性，终将会衰落，而科技新贵绝大多数也会在数年内失去光耀，当这些发生时，一个组织还能否有足够的能力和信念跟过去果断告别，然后拼凑起一家仍有活力的新公司。\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c!--MID_AD_4--\u003e\u003c!--EOP_4--\u003e\u003c/p\u003e\u003c!--PARAGRAPH_4--\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e\u003cbr/\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/p\u003e\u003cp style=\"background-color: rgb(255, 255, 255); line-height: 1.75em; margin: 0px 8px; min-height: 1em; padding: 0px; text-align: justify; text-indent: 0px\"\u003e\u003cstrong\u003e\u003cspan style=\"color: rgba(0, 0, 0, 0.9)\"\u003e\u003cspan style=\"font-size: 16px\"\u003e\u003cspan style=\"background-color: rgb(255, 255, 255)\"\u003e\u003cspan style=\"letter-spacing: 0.544px\"\u003e正如我们所讲的，诺基亚在转型过程中多次出现了“上帝关了一扇门后又开了一扇窗”的情形，但问题是，当那扇窗打开的时候，我们还坐在牌桌上吗？\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cstyle\u003e.data_color_scheme_dark{--weui-BTN-ACTIVE-MASK: rgba(255, 255, 255, .2)}.data_color_scheme_dark{--weui-BTN-DEFAULT-ACTIVE-BG: rgba(255, 255, 255, .126)}.data_color_scheme_dark{--weui-DIALOG-LINE-COLOR: rgba(255, 255, 255, .1)}.data_color_scheme_dark{--weui-BG-COLOR-ACTIVE: #373737}.data_color_scheme_dark{--weui-BG-6: rgba(255, 255, 255, .1);--weui-ACTIVE-MASK: rgba(255, 255, 255, .1)}.data_color_scheme_dark{--weui-BG-0: #111;--weui-BG-1: #1e1e1e;--weui-BG-5: #2c2c2c;--weui-BLUE-100: #10aeff;--weui-BLUE-120: #0c8bcc;--weui-BLUE-170: #04344d;--weui-BLUE-80: #3fbeff;--weui-BLUE-90: #28b6ff;--weui-BLUE-BG-100: #48a6e2;--weui-BLUE-BG-110: #4095cb;--weui-BLUE-BG-130: #32749e;--weui-BLUE-BG-90: #5aafe4;--weui-BRAND-100: #07c160;--weui-BRAND-120: #059a4c;--weui-BRAND-170: #023a1c;--weui-BRAND-80: 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#74A800;--weui-GREEN-120: #5C8600;--weui-GREEN-170: #233200;--weui-GREEN-80: #8FB933;--weui-GREEN-90: #82B01A;--weui-GREEN-BG-100: #789833;--weui-GREEN-BG-110: #6B882D;--weui-GREEN-BG-130: #65802B;--weui-GREEN-BG-90: #85A247;--weui-INDIGO-100: #1196FF;--weui-INDIGO-120: #0D78CC;--weui-INDIGO-170: #052D4D;--weui-INDIGO-80: #40ABFF;--weui-INDIGO-90: #28A0FF;--weui-INDIGO-BG-100: #0D78CC;--weui-INDIGO-BG-110: #0B6BB7;--weui-INDIGO-BG-130: #09548F;--weui-INDIGO-BG-90: #2585D1;--weui-LIGHTGREEN-100: #3EB575;--weui-LIGHTGREEN-120: #31905D;--weui-LIGHTGREEN-170: #123522;--weui-LIGHTGREEN-80: #64C390;--weui-LIGHTGREEN-90: #51BC83;--weui-LIGHTGREEN-BG-100: #31905D;--weui-LIGHTGREEN-BG-110: #2C8153;--weui-LIGHTGREEN-BG-130: #226541;--weui-LIGHTGREEN-BG-90: #31905D;--weui-LINK-100: #7D90A9;--weui-LINK-120: #647387;--weui-LINK-170: #252A32;--weui-LINK-80: #97A6BA;--weui-LINK-90: #899AB1;--weui-LINKFINDER-100: #DEE9FF;--weui-MATERIAL-ATTACHMENTCOLUMN: rgba(32, 32, 32, .93);--weui-MATERIAL-NAVIGATIONBAR: rgba(18, 18, 18, .9);--weui-MATERIAL-REGULAR: rgba(37, 37, 37, .6);--weui-MATERIAL-THICK: rgba(34, 34, 34, .9);--weui-MATERIAL-THIN: rgba(245, 245, 245, .4);--weui-MATERIAL-TOOLBAR: rgba(35, 35, 35, .93);--weui-ORANGE-100: #C87D2F;--weui-ORANGE-120: #A06425;--weui-ORANGE-170: #3B250E;--weui-ORANGE-80: #D39758;--weui-ORANGE-90: #CD8943;--weui-ORANGE-BG-100: #BB6000;--weui-ORANGE-BG-110: #A85600;--weui-ORANGE-BG-130: #824300;--weui-ORANGE-BG-90: #C1701A;--weui-ORANGERED-100: #FF6146;--weui-OVERLAY: rgba(0, 0, 0, .8);--weui-OVERLAY-WHITE: rgba(242, 242, 242, .8);--weui-PURPLE-100: #8183FF;--weui-PURPLE-120: #6768CC;--weui-PURPLE-170: #26274C;--weui-PURPLE-80: #9A9BFF;--weui-PURPLE-90: #8D8FFF;--weui-PURPLE-BG-100: #6768CC;--weui-PURPLE-BG-110: #5C5DB7;--weui-PURPLE-BG-130: #48498F;--weui-PURPLE-BG-90: #7677D1;--weui-RED-100: #FA5151;--weui-RED-120: #C84040;--weui-RED-170: #4B1818;--weui-RED-80: #FB7373;--weui-RED-90: #FA6262;--weui-RED-BG-100: #CF5148;--weui-RED-BG-110: #BA4940;--weui-RED-BG-130: #913832;--weui-RED-BG-90: #D3625A;--weui-SECONDARY-BG: rgba(255, 255, 255, .15);--weui-SEPARATOR-0: rgba(255, 255, 255, .05);--weui-SEPARATOR-1: rgba(255, 255, 255, .15);--weui-STATELAYER-HOVERED: rgba(0, 0, 0, .02);--weui-STATELAYER-PRESSED: rgba(255, 255, 255, .1);--weui-STATELAYER-PRESSEDSTRENGTHENED: rgba(255, 255, 255, .2);--weui-YELLOW-100: #CC9C00;--weui-YELLOW-120: #A37C00;--weui-YELLOW-170: #3D2F00;--weui-YELLOW-80: #D6AF33;--weui-YELLOW-90: #D1A519;--weui-YELLOW-BG-100: #BF9100;--weui-YELLOW-BG-110: #AB8200;--weui-YELLOW-BG-130: #866500;--weui-YELLOW-BG-90: #C59C1A;--weui-FG-HALF: rgba(255, 255, 255, .65);--weui-RED: #FA5151;--weui-ORANGERED: #FF6146;--weui-ORANGE: #C87D2F;--weui-YELLOW: #CC9C00;--weui-GREEN: #74A800;--weui-LIGHTGREEN: #3EB575;--weui-TEXTGREEN: #259C5C;--weui-BRAND: #07C160;--weui-BLUE: #10AEFF;--weui-INDIGO: #1196FF;--weui-PURPLE: #8183FF;--weui-LINK: #7D90A9;--weui-REDORANGE: #FF6146;--weui-TAG-BACKGROUND-BLACK: rgba(255, 255, 255, .05);--weui-FG: #fff;--weui-WHITE: rgba(255, 255, 255, .8);--weui-FG-5: rgba(255, 255, 255, .1);--weui-TAG-BACKGROUND-ORANGE: rgba(250, 157, 59, .1);--weui-TAG-BACKGROUND-GREEN: rgba(6, 174, 86, .1);--weui-TAG-TEXT-RED: rgba(250, 81, 81, .6);--weui-TAG-BACKGROUND-RED: rgba(250, 81, 81, .1);--weui-TAG-BACKGROUND-BLUE: rgba(16, 174, 255, .1);--weui-TAG-TEXT-ORANGE: rgba(250, 157, 59, .6);--weui-BG: #000;--weui-TAG-TEXT-GREEN: rgba(6, 174, 86, .6);--weui-TAG-TEXT-BLUE: rgba(16, 174, 255, .6);--weui-TAG-TEXT-BLACK: rgba(255, 255, 255, .5)}}@media screen and (min-width:1024px){body:not(.pages_skin_pc) .wx-root,body:not(.pages_skin_pc) body{--appmsgExtra-BG: #F7F7F7}}@media screen and (min-width:1024px){body:not(.pages_skin_pc) .wx-root,body:not(.pages_skin_pc) body{--new-title-color: rgba(0, 0, 0, .9)}}@media screen and (min-width:1024px){body:not(.pages_skin_pc) .wx-root,body:not(.pages_skin_pc) body{--new-content-color: rgba(0, 0, 0, .9)}}@media screen and (min-width:1024px){body:not(.pages_skin_pc) .wx-root[data-weui-theme=dark],body:not(.pages_skin_pc) body[data-weui-theme=dark]{--weui-BG-0: #111111;--weui-BG-1: #1E1E1E;--weui-BG-2: #191919;--weui-BG-3: #202020;--weui-BG-4: #404040;--weui-BG-5: #2C2C2C;--weui-BLUE-100: #10AEFF;--weui-BLUE-120: #0C8BCC;--weui-BLUE-170: #04344D;--weui-BLUE-80: #3FBEFF;--weui-BLUE-90: #28B6FF;--weui-BLUE-BG-100: #48A6E2;--weui-BLUE-BG-110: #4095CB;--weui-BLUE-BG-130: #32749E;--weui-BLUE-BG-90: #5AAFE4;--weui-BRAND-100: #07C160;--weui-BRAND-120: #059A4C;--weui-BRAND-170: #023A1C;--weui-BRAND-80: #38CD7F;--weui-BRAND-90: #20C770;--weui-BRAND-BG-100: #2AAE67;--weui-BRAND-BG-110: #259C5C;--weui-BRAND-BG-130: #1D7A48;--weui-BRAND-BG-90: #3EB575;--weui-FG-0: rgba(255, 255, 255, .8);--weui-FG-0_5: rgba(255, 255, 255, .6);--weui-FG-1: rgba(255, 255, 255, .5);--weui-FG-2: rgba(255, 255, 255, .3);--weui-FG-3: rgba(255, 255, 255, .1);--weui-FG-4: rgba(255, 255, 255, .15);--weui-GLYPH-0: rgba(255, 255, 255, .8);--weui-GLYPH-1: rgba(255, 255, 255, .5);--weui-GLYPH-2: rgba(255, 255, 255, .3);--weui-GLYPH-WHITE-0: rgba(255, 255, 255, .8);--weui-GLYPH-WHITE-1: rgba(255, 255, 255, .5);--weui-GLYPH-WHITE-2: rgba(255, 255, 255, .3);--weui-GLYPH-WHITE-3: #FFFFFF;--weui-GREEN-100: #74A800;--weui-GREEN-120: #5C8600;--weui-GREEN-170: #233200;--weui-GREEN-80: #8FB933;--weui-GREEN-90: #82B01A;--weui-GREEN-BG-100: #789833;--weui-GREEN-BG-110: #6B882D;--weui-GREEN-BG-130: #65802B;--weui-GREEN-BG-90: #85A247;--weui-INDIGO-100: #1196FF;--weui-INDIGO-120: #0D78CC;--weui-INDIGO-170: #052D4D;--weui-INDIGO-80: #40ABFF;--weui-INDIGO-90: #28A0FF;--weui-INDIGO-BG-100: #0D78CC;--weui-INDIGO-BG-110: #0B6BB7;--weui-INDIGO-BG-130: #09548F;--weui-INDIGO-BG-90: #2585D1;--weui-LIGHTGREEN-100: #3EB575;--weui-LIGHTGREEN-120: #31905D;--weui-LIGHTGREEN-170: #123522;--weui-LIGHTGREEN-80: #64C390;--weui-LIGHTGREEN-90: #51BC83;--weui-LIGHTGREEN-BG-100: #31905D;--weui-LIGHTGREEN-BG-110: #2C8153;--weui-LIGHTGREEN-BG-130: #226541;--weui-LIGHTGREEN-BG-90: #31905D;--weui-LINK-100: #7D90A9;--weui-LINK-120: #647387;--weui-LINK-170: #252A32;--weui-LINK-80: #97A6BA;--weui-LINK-90: #899AB1;--weui-LINKFINDER-100: #DEE9FF;--weui-MATERIAL-ATTACHMENTCOLUMN: rgba(32, 32, 32, .93);--weui-MATERIAL-NAVIGATIONBAR: rgba(18, 18, 18, .9);--weui-MATERIAL-REGULAR: rgba(37, 37, 37, .6);--weui-MATERIAL-THICK: rgba(34, 34, 34, .9);--weui-MATERIAL-THIN: rgba(95, 95, 95, .4);--weui-MATERIAL-TOOLBAR: rgba(35, 35, 35, .93);--weui-ORANGE-100: #C87D2F;--weui-ORANGE-120: #A06425;--weui-ORANGE-170: #3B250E;--weui-ORANGE-80: #D39758;--weui-ORANGE-90: #CD8943;--weui-ORANGE-BG-100: #BB6000;--weui-ORANGE-BG-110: #A85600;--weui-ORANGE-BG-130: #824300;--weui-ORANGE-BG-90: #C1701A;--weui-ORANGERED-100: #FF6146;--weui-OVERLAY: rgba(0, 0, 0, .8);--weui-OVERLAY-WHITE: rgba(242, 242, 242, .8);--weui-PURPLE-100: #8183FF;--weui-PURPLE-120: #6768CC;--weui-PURPLE-170: #26274C;--weui-PURPLE-80: 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#FA5151;--weui-ORANGERED: #FF6146;--weui-ORANGE: #C87D2F;--weui-YELLOW: #CC9C00;--weui-GREEN: #74A800;--weui-LIGHTGREEN: #3EB575;--weui-TEXTGREEN: #259C5C;--weui-BRAND: #07C160;--weui-BLUE: #10AEFF;--weui-INDIGO: #1196FF;--weui-PURPLE: #8183FF;--weui-LINK: #7D90A9;--weui-REDORANGE: #FF6146;--weui-TAG-TEXT-BLACK: rgba(255, 255, 255, .5);--weui-TAG-BACKGROUND-BLACK: rgba(255, 255, 255, .05);--weui-WHITE: rgba(255, 255, 255, .8);--weui-FG: #fff;--weui-BG: #000;--weui-FG-5: rgba(255, 255, 255, .1);--weui-TAG-BACKGROUND-ORANGE: rgba(250, 157, 59, .1);--weui-TAG-BACKGROUND-GREEN: rgba(6, 174, 86, .1);--weui-TAG-TEXT-RED: rgba(250, 81, 81, .6);--weui-TAG-BACKGROUND-RED: rgba(250, 81, 81, .1);--weui-TAG-BACKGROUND-BLUE: rgba(16, 174, 255, .1);--weui-TAG-TEXT-ORANGE: rgba(250, 157, 59, .6);--weui-TAG-TEXT-GREEN: rgba(6, 174, 86, .6);--weui-TAG-TEXT-BLUE: rgba(16, 174, 255, .6)}}@media screen and (min-width:1024px){body:not(.pages_skin_pc) .wx-root[data-weui-theme=dark],body:not(.pages_skin_pc) body[data-weui-theme=dark]{--appmsgExtra-BG: #121212}}@media screen and (min-width:1024px){body:not(.pages_skin_pc) .wx-root[data-weui-theme=dark],body:not(.pages_skin_pc) body[data-weui-theme=dark]{--new-title-color: rgba(255, 255, 255, .8)}}@media screen and (min-width:1024px){body:not(.pages_skin_pc) .wx-root[data-weui-theme=dark],body:not(.pages_skin_pc) body[data-weui-theme=dark]{--new-content-color: rgba(255, 255, 255, .7)}}@media screen and (min-width:1024px){body:not(.pages_skin_pc)body:not(.pages_skin_pc){background:var(--weui-BG-2)}}@media screen and (min-width:1024px) and (prefers-color-scheme:dark){body:not(.pages_skin_pc) .wx-root[data-weui-mode=care]:not([data-weui-theme=light]),body:not(.pages_skin_pc) body[data-weui-mode=care]:not([data-weui-theme=light]){--weui-BG-0: #111111;--weui-BG-1: #1E1E1E;--weui-BG-2: #191919;--weui-BG-3: #202020;--weui-BG-4: #404040;--weui-BG-5: #2C2C2C;--weui-BLUE-100: #10AEFF;--weui-BLUE-120: #0C8BCC;--weui-BLUE-170: #04344D;--weui-BLUE-80: #3FBEFF;--weui-BLUE-90: #28B6FF;--weui-BLUE-BG-100: #48A6E2;--weui-BLUE-BG-110: #4095CB;--weui-BLUE-BG-130: #32749E;--weui-BLUE-BG-90: #5AAFE4;--weui-BRAND-100: #07C160;--weui-BRAND-120: #059A4C;--weui-BRAND-170: #023A1C;--weui-BRAND-80: #38CD7F;--weui-BRAND-90: #20C770;--weui-BRAND-BG-100: #2AAE67;--weui-BRAND-BG-110: #259C5C;--weui-BRAND-BG-130: #1D7A48;--weui-BRAND-BG-90: #3EB575;--weui-FG-0: rgba(255, 255, 255, .85);--weui-FG-0_5: rgba(255, 255, 255, .65);--weui-FG-1: rgba(255, 255, 255, .55);--weui-FG-2: rgba(255, 255, 255, .35);--weui-FG-3: rgba(255, 255, 255, .1);--weui-FG-4: rgba(255, 255, 255, .15);--weui-GLYPH-0: rgba(255, 255, 255, .85);--weui-GLYPH-1: rgba(255, 255, 255, .55);--weui-GLYPH-2: rgba(255, 255, 255, .35);--weui-GLYPH-WHITE-0: rgba(255, 255, 255, .85);--weui-GLYPH-WHITE-1: rgba(255, 255, 255, .55);--weui-GLYPH-WHITE-2: rgba(255, 255, 255, .35);--weui-GLYPH-WHITE-3: #FFFFFF;--weui-GREEN-100: #74A800;--weui-GREEN-120: #5C8600;--weui-GREEN-170: 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255, .8);--weui-FG-5: rgba(255, 255, 255, .1);--weui-TAG-BACKGROUND-ORANGE: rgba(250, 157, 59, .1);--weui-TAG-BACKGROUND-GREEN: rgba(6, 174, 86, .1);--weui-TAG-TEXT-RED: rgba(250, 81, 81, .6);--weui-TAG-BACKGROUND-RED: rgba(250, 81, 81, .1);--weui-TAG-BACKGROUND-BLUE: rgba(16, 174, 255, .1);--weui-TAG-TEXT-ORANGE: rgba(250, 157, 59, .6);--weui-BG: #000;--weui-TAG-TEXT-GREEN: rgba(6, 174, 86, .6);--weui-TAG-TEXT-BLUE: rgba(16, 174, 255, .6);--weui-TAG-TEXT-BLACK: rgba(255, 255, 255, .5)}}@media screen and (min-width:1024px) and (prefers-color-scheme:dark){body:not(.pages_skin_pc) .wx-root:not([data-weui-theme=light]),body:not(.pages_skin_pc) body:not([data-weui-theme=light]){--weui-BG-0: #111111;--weui-BG-1: #1E1E1E;--weui-BG-2: #191919;--weui-BG-3: #202020;--weui-BG-4: #404040;--weui-BG-5: #2C2C2C;--weui-BLUE-100: #10AEFF;--weui-BLUE-120: #0C8BCC;--weui-BLUE-170: #04344D;--weui-BLUE-80: #3FBEFF;--weui-BLUE-90: #28B6FF;--weui-BLUE-BG-100: #48A6E2;--weui-BLUE-BG-110: 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