Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Nokia Corp. plans to present six new mobile devices including its first tablet at an October event in Abu Dhabi, which would be its first major product launch since announcing a deal to sell its devices unit to Microsoft Corp., according to people familiar with the plan.

The product blitz to be unveiled in Abu Dhabi Oct. 22, will include several Lumia smart devices that run Microsofts Windows phone platform, and lower-end devices based on Nokias S40 software, these people said. Nokias first tablet device will also debut, and will run Windows 8 software.

The long-awaited Nokia tablet, is named “Sirius,” and will enter a crowded segment that has evolved over several years. Apple Inc. is expected to launch another edition of its iPad tablet in the fourth quarter, and Microsoft recently revamped its Surface tablet.

Nokias Lumia phones have run the Windows platform exclusively since 2011, and it has launched a number of new editions, but a tight marketing budget and a lack of significant demand for the software has seen Nokias market share continue to fall.

In a recent interview, Nokias marketing chief Tuula Rytila said the short term goal is to point buyers to the silver lining the Microsoft deal is supposed to represent.

“Things are better now than they were before,” Ms. Rytila said, referring to the Microsoft deal. “We are part of a big company that is very profitable, a company that has cash and is future proof.”

Nokia and Microsoft, however, argue that better funded and coordinated advertising efforts will help resist the rivals that have been stealing Nokia buyers in recent years.

“Our competitors are pouring money into their marketing,” Ms. Rytila said, adding that she expects the budget to grow under the new owner. “I think every marketer would like a larger marketing budget, so if this is an opportunity for me to say that I need more money I will definitely say so.”

Last year, Nokia spent $21 million marketing its phones in the U.S., according to research firm Kantar Media, while Samsung Electronics Co. spent $401 million and Apple spent $333 million over the same period.

Nokia shares rose more than 68% year-to-date.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Gold slipped amid QE speculationsGold slipped amid QE speculations Gold slipped and circled around $1 396 an ounce as investors remained cautions ahead of key employment data, scheduled for Thursday and Friday. Prices rose 0.3% yesterday as the ADP Employment Change mismatched forecasts and showed a less than […]
  • USD/NOK settles below 6-week high, posts weekly gainUSD/NOK settles below 6-week high, posts weekly gain The USD/NOK currency pair settled below recent high of 10.1407, its strongest level since August 27th, as market players were on watch for signs on when the US federal government will reopen and publish data, which could shape the Federal […]
  • US stocks slightly decrease over stimulus tapering concernUS stocks slightly decrease over stimulus tapering concern US stocks retreated for a fourth day, the longest slump in 10 weeks for the Standard & Poor’s 500 Index, as investors weighed recent economic data for the Federal Reserve to start paring stimulus efforts this month.The S&P 500 lost […]
  • Forex Market: CAD/CHF daily forecastForex Market: CAD/CHF daily forecast During yesterday’s trading session CAD/CHF traded within the range of 0.8233-0.8256 and closed at 0.8240.At 6:06 GMT today CAD/CHF was gaining 0.16% for the day to trade at 0.8252. The pair touched a daily high at 0.8254 at 6:00 GMT, […]
  • US stock futures slightly rise before Fed meetingUS stock futures slightly rise before Fed meeting U.S. stock-index futures hesitate today after the Standard & Poors 500 index advanced to a record high as Federal Reserve policy makers began a two-day meeting.S&P 500 futures expiring in December added 0.1% to 1,760.5 at 8:31 a.m. […]
  • Aldi goes on a hiring spree in the US ahead of holiday seasonAldi goes on a hiring spree in the US ahead of holiday season Aldi said earlier this week that it intended to hire more than 20,000 new workers and increase their pay in the United States in preparation for the busy holiday season.The grocery chain said that its average national starting wages […]