KONE Corporation (KONE) manufactures and supplies elevators and escalators globally. It also offers services and solutions spanning the lifecycle of building projects starting from the supply and installation of new equipment to maintenance for equipment in operation. It serves various sectors such as hotels, leisure facilities, public spaces, airports, residential and office buildings, shopping centers, supermarkets, railway stations and department stores . The company operates through three reportable business segments, New Equipment, Maintenance and Modernization. The company had over 145 subsidiaries at the end of FY2022.

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The company research and development (R&D) efforts focus on creating intelligent and sustainable solutions that can adapt to future needs. It incorporates digital systems into elevators and escalators to improve people flow and the user experience and offers a platform for various services and business models through built-in connectivity. The company aims to support customers in achieving eco-efficiency goals and continuously improve the energy-efficiency of its solutions. It partners with other companies to enhance its customer-focused solutions and ensure regulatory conformity and cost competitiveness for innovative products through global engagement with regulatory authorities and contribution to standardization. KONE has launched a new collection of offerings in March that aim to improve the movement of people and materials on construction sites and provide innovative solutions for making buildings more versatile, adjustable, and eco-friendly. KONE DX class elevators received a cybersecurity certification from TUV Rheinland during the third quarter, indicating that KONE considers cybersecurity to be a crucial aspect of their product development. In FY2022, it spent EUR187.8 million on R&D, which as a percentage of revenue, stood at 1.72% and decreased 0.5% YoY. The company operates eight global R&D units employing more than 1,700 professionals. As of December 2022,it had more than 4,800 patents.