As of today, Samsung is dominating the smartphone market, thanks to their best-selling Galaxy S III phones. These Android-based phones have taken the concept of the smartphone and made it better. Apple Inc. (NASDAQ:AAPL), which used to dominate that market in sales, is starting to slip a little, and that has some people worried that the upcoming iPhone 5 won’t live up to standards. And what about other smartphone companies that don’t appear to even have a fighting chance? One Nokia Corporation (NYSE:NOK) executive has high expectations for his company.
The chief sales executive for Nokia Corporation (NYSE:NOK), Chris Weber, sent out a tweet on Wednesday, alerting Samsung to “take note” because the next generation Nokia Lumia is coming soon.
At this year's annual Robin Hood conference, which was held virtually, the founder of the world's largest hedge fund, Ray Dalio, talked about asset bubbles and how investors could detect as well as deal with bubbles in the marketplace. Q1 2021 hedge fund letters, conferences and more Dalio believes that by studying past market cycles Read More
Although the warning sounds weak, especially given that Nokia Corporation (NYSE:NOK) is failing fast and Lumia sales haven’t boosted revenues, he might be on to something. Unfortunately, Vlad Savov, from The Verge, doubts that Weber’s tweet has much merit. He said Nokia “conveys a confidence that’s either backed up by what he’s seen behind closed doors, or inflated by Nokia’s desperation to deliver a truly market-leading device.”
At press time, there aren’t many details about the next generation Lumia, but Nokia’s CEO did mention that the company would introduce a new Lumia model with a Windows Phone 8 operating system. It’s predicted that Nokia Corporation (NYSE:NOK) will introduce their new phone about one week before Apple introduces the iPhone 5. It sounds like fall is going to be a big season for smartphone shoppers.
Only time will tell if Weber is right and Nokia Corporation (NYSE:NOK) outperforms Samsung (and maybe Apple), but I doubt that will happen. Even if the next generation Lumia ends up having the most impressive features, that’s still no guarantee that it’s going to be an easy sell. Nokia has branded themselves in a negative light, and most people don’t equate their technology products with quality. This is also why it’s going to take to take a miracle for Nokia to bounce back, if they ever do.