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

  • EADS goes through longely awaited re-branding as a new year comesEADS goes through longely awaited re-branding as a new year comes As the new year came, the plane makers parent company dropped one of the corporate worlds most unrecognized names: European Aeronautic Defence & Space Co. The company has always been appealing to its customers with its alternative - […]
  • EUR/USD edges lower as German economic sentiment dropsEUR/USD edges lower as German economic sentiment drops The euro declined against the US dollar on Tuesday, following a report that showed German economic sentiment unexpectedly decreased this month.EUR/USD touched a session low at 1.3525 at 10:00 GMT, after which consolidation followed at […]
  • Commodities trading outlook: crude oil and natural gas futuresCommodities trading outlook: crude oil and natural gas futures WTI and Brent prices dropped midday in Europe today, as investors eyed conflicts in Iraq and Ukraine, ahead of weekly US oil inventories reports. Meanwhile, natural gas futures climbed, as investors picked up on calls for warmer days in the US […]
  • London Stocks Edge Higher, Smith & Nephew Soars 6.33%London Stocks Edge Higher, Smith & Nephew Soars 6.33% Key Moments:Smith & Nephew shares jumped 6.33% after reporting a 1.6% year-on-year rise in Q1 revenue. Genus surged 23% after the FDA approved its gene-edited, disease-resistant pig for the US food supply. Glencore fell 4.4% following […]
  • Australia state to invest A$1 bln in renewable energy transitionAustralia state to invest A$1 bln in renewable energy transition Australia's second-most populous state, Victoria, on Thursday announced plans to invest AUD 1 billion ($630 million) to speed up energy transition towards renewable power and support a shift away from natural gas for heating and cooking […]
  • Commodities trading outlook: natural gas and crude oil futuresCommodities trading outlook: natural gas and crude oil futures Todays European trading session saw West Texas Intermediate and Brent both claw their way up from last sessions losses on the bearish US supplies report, with firm support coming from Ukraine. Meanwhile, natural gas kept earlier gains on […]