- Business
- KONE Oyj is a global leader in the elevator and escalator industry, specializing in the manufacturing, installation, maintenance, modernization, and replacement of elevators, escalators, and automatic building doors. Its core products include KONE MonoSpace elevators designed for low- to mid-rise buildings; KONE DX Class elevators that focus on energy efficiency and green building objectives; escalators; and automatic building door solutions. KONE also provides innovative service and modernization solutions such as predictive maintenance, touchless people flow technologies, cleaning and disinfecting systems, and consulting services to optimize building people flow and safety, emphasizing sustainability and digital transformation.
Founded in 1910 and headquartered in Espoo, Finland, KONE operates globally with a workforce exceeding 60,000 employees and maintains manufacturing facilities and R&D centers across multiple countries. Its business is segmented broadly into new equipment sales (approximately 46.6% of revenue), maintenance services for an installed base of over 1.5 million units (about 36.9%), and modernization services (about 16.6%). KONE’s revenues reached around EUR 11 billion in 2023, with a strong emphasis on service and modernization accounting for over 60% of revenues, reflecting its strategic shift toward service-oriented growth.
Recent major changes include the launch of a new ambitious strategic plan for 2025–2030 focusing on accelerating digital transformation in service delivery, driving modernization, expanding leadership in the residential market segment, and cutting carbon emissions to enhance customer value and competitiveness. Organizational restructuring is underway to simplify the operating model by strengthening geographic area accountability and global platform integration, aimed at boosting growth and profitability with expected annual cost savings of around EUR 100 million. Leadership changes include the appointment of a new Executive Vice President of Commercial & Operations in 2025, supporting these strategic objectives.
KONE's strategic emphasis on sustainability, innovation, and digitalization positions it as a frontrunner in shaping the future of urban mobility, delivering safe, convenient, and reliable people flow solutions globally across high-rise, mid-rise, residential, commercial, and infrastructure markets. The company’s shares are publicly listed on the Nasdaq Helsinki stock exchange under the ticker KNYJF.