Nokia Corporation (ADR) (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) tweeted a photo of a black box today with a somewhat cryptic message:
— Nokia (@nokia) November 17, 2014
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Nokia product unveiling expected tomorrow
If today’s share price is any indication, investors weren’t overly thrilled at the prospect of a black box from Nokia. The company has been promising something new for a while, sending out various messages over social media. Nokia also said on Twitter that this would be a big week, suggesting that perhaps that black box isn’t the only thing executives will have to show off.
It’s pretty clear that the black box in the picture must be Nokia’s first major product since it sold its devices division to Microsoft Corporation (NASDAQ:MSFT). We should find out what that product is tomorrow at Slush 2014, an annual event held for technology companies and startups in Helsinki.
What is Nokia up to?
So what might that black box be? Nokia has been focusing on its Networks business since unloading the handset division on Microsoft. Although the company did leave the handset business, CEO Rajeev Suri said recently that they would be returning to the consumer market.
Of course it’s anyone’s guess what the black box in the photo is, but it looks an awful lot like one of the earlier versions of the Roku Box, which is used to stream video to TV sets. There’s also the possibility that it has something to do with home automation, commonly referred to as the Internet of Things.
Nokia has continues to stagger as it attempts to recover from the harsh smartphone business. Recently the company slashed over 25,000 jobs from its wireless networking business, which is supposed to be its bread and butter. Nokia has also been striking deals to provide networking equipment to carriers like Sprint Corporation (NYSE:S) and China Mobile Ltd. (ADR) (NYSE:CHL).