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

  • ASX Technical Disruption Renews Concerns Over Market InfrastructureASX Technical Disruption Renews Concerns Over Market Infrastructure Key Moments ASX experienced a multi-hour outage on Monday, leaving trading in certain companies suspended while others resumed. The disruption hit as regulators scrutinise ASX's governance, risk management, and clearing and […]
  • Intel share price down, profit surges but shares fall on weak outlookIntel share price down, profit surges but shares fall on weak outlook Intel Corp, the worlds largest chipmaker, reported a 39% increase in net income during the fourth quarter of 2014, driven by higher demand for server chips and stronger PC sales.In the quarter ended September 27 Intel reported record […]
  • Forex Market: EUR/USD edges lower on rising US Treasury yields, US CPI report in focusForex Market: EUR/USD edges lower on rising US Treasury yields, US CPI report in focus EUR/USD did not manage to hold on to Monday's slim gain after French President Emmanuel Macron's victory over far-right challenger Marine Le Pen in the first round of presidential voting."The bottom line, then, is that we are where we […]
  • Oil extends gains as QE remains intact, upbeat inventories dataOil extends gains as QE remains intact, upbeat inventories data Both WTI and Brent benchmarks extended yesterdays major advance as policy makers defied broad market expectations for Quantitative Easing tapering and left the monetary easing program intact. The oil market was also strongly supported by […]
  • Forex Market: USD/CAD daily trading outlookForex Market: USD/CAD daily trading outlook Yesterday’s trade saw USD/CAD within the range of 1.1421-1.1343. The pair closed at 1.1364, shedding 0.38% on a daily basis.At 10:24 GMT today USD/CAD was down 0.08% for the day to trade at 1.1358. The pair held in a daily range of […]
  • GBP/USD close to seven-week highsGBP/USD close to seven-week highs British pound was trading in proximity to seven-week highs against the US dollar on Thursday, a day after Bank of Englands decision to maintain interest rates at current record low level until unemployment rate in the United Kingdom decreases […]