Nokia Corporation (ADR) (NOK) Returning To Phone Market In 2016 [REPORT]

Nokia Corporation (ADR) (NOK) Returning To Phone Market In 2016 [REPORT]
Hermann / Pixabay

Nokia was a casualty in the cut-throat smartphone industry, but it may re-emerge next year with an Android device. It has been two years since Microsoft purchased the company’s smartphone division and exclusive rights to the Nokia brand. Now that 2016 is nearing, it appears Nokia may try its hand at the smartphone market again.

Play Quizzes 4

Nokia reportedly planning comeback

Re/Code reports that the Finnish tech company hopes to make a big comeback sometime next year. The website cited several sources for its report. The Nokia division has already introduced two new Android products. The products came in the form of the critically claimed Zlauncher and N1. The latter was an Android tablet licensed to another manufacturer to sell it under the Nokia name in China.

London Quality Growth Investor Conference: Buy Dassault Systemes

invest Southpoint CapitalAt this year's inaugural London Quality Growth Investor conference, Denis Callioni, analyst and portfolio manager at European investment group Comgest, highlighted one of the top ideas of the Comgest Europe Growth Fund. According to the speaker, the team managing this fund focus on finding companies that have stainable growth trajectories with a proven track record Read More

Former Nokia executive Richard Kerris, who consulted for the company last year, said they had a lot of great products in the development phase. He said he also has complete confidence that Nokia isn’t going anywhere. Kerris also said consumers will be impressed by what they bring to the market. Right now, Nokia Technologies owns 10,000 patents. It is actively looking for more development and licensing. The company is also hiring new employees.

A look at Nokia’s business plans

This report is somewhat contradictory to the company’s recent commitment to its carrier network business right after the purchase of Alcatel-Lucent. Nokia claims it is continuing its focus on creating new technologies and sharing them through active licensing programs.

Nokia also promises to expand in new areas with a focus on enabling human possibilities within the connected world. The company declined to elaborate any further after that, claiming more would be said at a later date. It still unknown how the change will affect Windows Phone. Although Microsoft has struggled with Windows Phone, it does enjoy strong sales in Europe, Latin America, India and Southeast Asia.

Updated on

No posts to display