As the new year begins, speculations have begun to swirl the market that 2013 is going to be a critical year for the Finnish mobile maker, Nokia Corporation (ADR) (NYSE:NOK).
Finally turning a corner with its Lumia 920 selling at a reasonable pace, it appears that the struggling mobile phone maker has only first half of 2013 to figure things out.
Market speculations reveal that Nokia Corporation (ADR) (NYSE:NOK) will likely bid farewell to the mobile industry, as the company sells its mobile operation and infrastructure divisions to Huawei. Keeping in mind those 6 consecutive quarterly losses that Nokia reported last year, it is not entirely wrong to assume that the company might assume this year as the last year of it’s stay in the mobile industry.
It is important to highlight that the Finnish mobile phone maker was rumored in early 2011 to be in talks with Microsoft about the possible acquisition of its mobile business. However, the company denied those rumors at once.
Now excelling in the hardware market alongside its software business, Microsoft now have the potential to buy out Nokia in order to bring its Windows Phone 8 in competition with Apple’s vertically integrated iPhone.
According to Gartner, the market researcher, Nokia Corporation (ADR) (NYSE:NOK) slipped to seventh in smartphone sales in the third quarter from third in the previous quarter.
In an interview with CNET news, Nokia CEO Stephen Elop said the company has to move faster to keep pace with the shift in the mobile market. “There’s been a marked shift towards this challenger mindset. We have to move with urgency. We have to have empathy and listen to our customers. How do we respond to consumer demand that we haven’t done as quickly as before? How do we take those bold steps? How do we disrupt the competition? From what I’ve seen in this organization, that shift is happening.” said Elop in the interview.
Nokia Corporation (ADR) (NYSE:NOK) is making progress, but strange things have happened lately. The first half of the 2013 can only provide us a glimpse into the future of the Finnish company.