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

  • Upbound Group announces $0.37 quarterly dividendUpbound Group announces $0.37 quarterly dividend Upbound Group (NASDAQ: UPBD) said on Thursday that its Board of Directors had authorized a regular quarterly cash dividend of $0.37 per share of common stock.The dividend was kept unchanged from the previous quarterly dividend […]
  • Germany’s trade surplus expands to EUR 22.3 billion in MarchGermany’s trade surplus expands to EUR 22.3 billion in March Germany's trade balance surplus has widened to EUR 22.3 billion in March from EUR 21.4 billion in February, the latest data by the Federal Statistical Office showed.In comparison, market consensus had pointed to a surplus of EUR 22.4 […]
  • Forex Market: USD/RUB daily trading forecastForex Market: USD/RUB daily trading forecast Yesterday’s trade saw USD/RUB within the range of 35.977-36.393. The pair closed at 36.014, losing 0.88% on a daily basis.At 12:42 GMT today USD/RUB was up 0.46% for the day to trade at 36.212. The pair broke the first key daily and the […]
  • Microsoft to invest $700M in Poland data centerMicrosoft to invest $700M in Poland data center Microsoft President Brad Smith said at a joint press conference with Polish Prime Minister Donald Tusk that the tech giant intended to invest additional $700 million in Poland to bolster the nation's cybersecurity, cooperating with the Polish […]
  • Natural gas trading outlook: futures ease ahead of EIA supply dataNatural gas trading outlook: futures ease ahead of EIA supply data Natural gas fell in early European trading on Thursday as investors weighed short-term forecasts calling for widespread very warm to hot weather across the US versus an expected above-average inventory gain last week.Natural gas for […]
  • Norway’s unemployment rate stable at 4.1% in JuneNorway’s unemployment rate stable at 4.1% in June The seasonally adjusted unemployment rate in Norway was reported to have remained stable at 4.1% in June.The number of unemployed individuals remained steady from a month ago at 123,000, data by Statistics Norway showed.At the same […]