Finns Prefer Nokia Corporation (ADR) (NOK) Over Other Brands

Nokia

Almost 49 percent of the Finnish users want to purchase a Nokia Corporation (ADR) (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) phone when they switch to their next mobile phone, says a survey from Taloustutkimus.  The figure was 45 percent in the previous year and 68 percent in 2011.

All the professionals except for farmers chose Nokia over other brands. Amongst the farmers, Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) was the most preferred mobile brand.

Nokia

The Finnish phone maker, which was once the market leader in the segment, is now struggling to compete with other Smartphone makers worldwide, and is now out of the top five Smartphone companies. Global market share of Nokia is depleting in the wake of tough competition from Samsung and Apple Inc (NASDAQ:AAPL).

Declining market share

Earlier in May, a report from IDC said that Nokia Corporation (ADR) (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) lost its ground as the most dominant seller of phones in Finland in the first quarter. In May, Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) was the number one phone seller in Finland, selling 210,000 phones from January to March.  Compared to Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930), Nokia sold 196,000 in the same time frame.

According to Gartner, worldwide market share of Nokia declined 14.8 percent in the first quarter of this year, a decline from 19.7 percent during the corresponding period in the previous year.

Nokia betting on Lumia 1020

Nokia Corporation (ADR) (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) is now looking to its newly announced 1020 Lumia phone that relies on high tech imaging and a 41 megapixel camera to overcome the competition.

Nokia recently launched Lumia 1020 and is trying hard to regain lost market share. Lumia 1020 is an innovative phone that sports a 41 megapixel sensor along with image stabilizing technology, which is not common in the Smartphones. The technology would allow users to get better clicks instead of foggy ones in the night or indoors. Images can be zoomed enough for the bare eyes to go into the fine details of the picture.

According to Nokia’s Marketing Executive Chris Weber, Lumia 1020 will define a new trend and will make point-and-shoot cameras out dated.

Lumia 1020 will be offered on AT&T Inc. (NYSE:T) in the United States for $300 with a two year service agreement. Nokia Lumia 1020 is premium priced compared to other Smartphones but Nokia remains confident that the customer will pay more once they understand the unique features of device.

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About the Author

Aman Jain
Aman is MBA (Finance) with an experience on both Marketing and Finance side. He has worked as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, reviewing tech gadgets, playing PC games and cricket. - Email him at [email protected]

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