Microsoft Corporation (NASDAQ:MSFT) is ready to drop the Nokia Corporation (ADR) (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) brand from smartphone division. Nokia’s chief executive officer Stephen Elop announced the big change.
Microsoft to drop Nokia name
The recent announcement was brought up on Nokia’s Conversations blog in a Q and A session. He explained, “Nokia as a brand will not be used for long going forward for smartphones. Work is underway to select the go-forward smartphone brand.”
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Elop is still reluctant to share details on the matter. This means fans will have to wait to hear about the details of the new brand.
Late last week, Microsoft finalized the deal with Nokia Corporation (ADR) (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V). Elop, who was once the chief executive officer of Nokia, is now the lead the devices for Microsoft Corporation (NASDAQ:MSFT). This ends one chapter for Nokia and begins a new chapter. In the past seven years, the once-popular Finnish smartphone maker lost out to competition from companies like Apple Inc. (NASDAQ:AAPL) and Samsung Electronics Co. Ltd. (LON:BC94) (KRX:0059935) . The smartphone market is a tricky market to crack into, even for a company that has been in the mobile phone business as long as Nokia has been.
Nokia’s decision to collaborate with Microsoft
Microsoft’s recent acquisition of Nokia brings a huge change for both corporations. It is a collaborative effort designed to create competition and offer consumers something new.
During the Q and A session, Elop also talked about why Nokia Corporation (ADR) (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) chose Microsoft Corporation (NASDAQ:MSFT) over Android. He explained, “When we made the decision to focus on Windows Phone back in 2011, we were very concerned that a decision to pursue Android would put us on a collision course with Samsung, who already had established a head of steam around Android. That was the right decision, as we have seen virtually all other OEMs from those days pushed to the side. Today, we are using AOSP to attack a specific market opportunity, but we are being thoughtful to do it in a way that accrues benefit to Microsoft and to Lumia.”