Nokia Corporation (ADR) (NYSE:NOK) Responds to Speculation About its Return to The Mobile Business

Nokia Corporation (ADR) (NYSE:NOK) responded to questions about its return to the mobile phone business and thought the Answer was not Straightforward; it might as well be affirmative.

Last year, the company sold its mobile division to Microsoft Corporation (NASDAQ:MSFT) but the latter seems to have other plans. The recent announcement that Microsoft was writing off the mobile division came as a surprise to many. Many people, particularly Windows Phone enthusiasts were curious as to the future of the mobile brand, with most fearing that it might be the end of that venture as we know it. There has therefore been speculation that Nokia might be planning to make a comeback.

Nokia’s response to the probe was that it is complicated, as stated by the company’s spokesperson Robert Morlino. This complication is simple to understand because the company already sold its devices and services to Microsoft a year ago, including the technology used to make these devices. Nokia’s plan was to focus on networking infrastructure. To get back into the game, Nokia Corporation (ADR) (NYSE:NOK) will have to start from scratch, and that includes making huge investments that would set the company back by miles.

Making a comeback will most likely be a daunting task. The company might have to partner up with third party manufacturers. After all, the Nokia brand still has a lot of weight, and they can use that to their advantage. Not so long ago, Nokia was a big shot in the mobile phone industry. Since the smartphones took over the industry, Nokia’s shine has been slowly dying off. The partnership with Microsoft to produce Nokia smartphones running on Windows did not prove to be the redeemer that the company had expected and in the end, it disposed the division.

Currently, there are scanty details about Nokia’s return to the mobile phone arena. The firm promised to release further details in due time. Either way, it will be a difficult and the company will have to pull major strings to get back.

 

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Culver Stinson

Culver Stinson

Stinson is US Markets Daily’s Senior Producer for News & Public Affairs.