Nokia got its start in 1865, when Fredrik Idestam established a paper mill in Finland. Idestam teamed up with co-founder Leo Mechelin in 1871 and named their company Nokia.
The company expanded to working with rubber, electricity, and cables. They moved into electronics in 1960 and the rest has been history.
The name "Nokia" is derived from a river named Nokianvirta where the paper mill was. The Nakianvirta river got its name from an animal called the "Nokia" (a small mammal related to the weasel and the wolverine.)
In the picture: My new Nokia vibrating camera phone...
(Sources: 1, 2, 3, 4)