Nokia Corporation (NYSE:NOK) has partnered with the mobile advertising company, Inneractive, to launch an ad exchange dubbed Nokia Ad Exchange (NAX). This was done in a bid to help developers in monetizing their apps. The Finnish-based mobile phone maker is trying to conjure a turnaround from its current misfortunes, which have left it fighting for the scraps in terms of market share, despite its shifting from a profitable position, to a loss enduring company. Nonetheless, Nokia Corporation (NYSE:NOK) has triggered a restructuring program, which is currently underway, as it seeks to resume profitability.
According to TNW, Nokia’s Richard Kerris, VP & Head of Global Developer Relations, is quoted saying, “with the launch of NAX, Nokia Corporation (NYSE:NOK) will enable developers to simply and effectively monetize their apps, as part of our continued focus on supporting the developers ROI to build successful businesses. We developed this platform, with Inneractive, to put control into the hands of all developers so that they can realize the best monetization solution for their apps”.
The new ad exchange will help developers to monetize their apps on any platform. NAX will work with over 120 ad networks and agencies, and will utilize Inneractive’s ad exchange technologies, such as hybrid mediation and real-time bidding, said TNW. On the other hand, Offer Yehudai, Inneractive president and co-founder was very excited at the prospect of working with Nokia Corporation (NYSE:NOK) in the ad exchange business.
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Yehudai said, “In launching NAX, Nokia Corporation (NYSE:NOK) has created a true value proposition for all developers, and a platform where networks and agencies can find an exclusive, relevant audience”. While Nokia’s partnership with Inneractive might basically be formed for the purposes highlighted, this could yet be interpreted as an attempt by the ailing smartphone maker, to court developers, who are increasingly flooding the Android market.
The Windows Phone platform is yet to gain any traction, and app developers are wooed to other platforms that have a wider market access. Nonetheless, Nokia Corporation (NYSE:NOK) is not the only company struggling with ad monetization, albeit for its developers. Facebook Inc (NASDAQ:FB) recently launched a similar platform in a bid to boost its ad monetization. Currently, Google Inc (NASDAQ:GOOG) is said to be the most successful in mobile ads, despite managing only a piece of the potential the industry holds.
Finally, the world is turning mobile every second, and businesses are following the same channel with their social media marketing campaigns. Advertising is going mobile, and Nokia’s latest developments could be the stepping stones back to glory days.