Nokia Corporation (ADR) (NOK) Increases Component Supply Orders [REPORT]

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Nokia Corporation (ADR) (NOK) Increases Component Supply Orders [REPORT]
Hermann / Pixabay

Nokia Corporation (ADR) (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) has completed the sale of its handset business to Microsoft Corporation (NASDAQ:MSFT). The two companies closed the $7.4 billion deal on April 25. Nokia’s handset unit has increased component orders from Asian suppliers. According to DigiTimes, Asian panel maker such as Chunghwa Picture Tubes (CPT), Japan Display, Innolux, and touch panel makers GIS and Wintek have received increased orders from Nokia.

Nokia is going aggressively after Chinese vendors

Supply chain sources said that Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) aims to build a strong presence in Asian smartphone market by offering low-price devices. Chinese vendors will be the Finnish company’s biggest rivals. The company is also targeting mid-range and high-end markets as well. Japan Display will be supplying HD and full HD units, while other panel manufacturers will be responsible for WVGA and QHD units. Meanwhile, Chinese smartphone makers have also been looking for lowest-priced solutions to raise price competitiveness in the Asian market.

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