Tropical Change for Nokia was Correctly Forecasted

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It could be a wake-up call for Nokia as they are sorting out the ways to revitalize its previously ruling brand name again in the consumer electronic market.

The company has already sold its flagship mobile phone section to Microsoft before, while in return of around US$7 billion (S$9.1 billion).

Nokia’s chief executive, Rajeev Suri, replied on the rumors based on reinstating the networks equipment maker in the handset market, "I think you can expect our brand will return to the consumer world."

He discussed the potential targets with the investors during the presentation held at London that, Nokia’s next corporate strategy is to allocating its brand’s name to different companies instead of initiating new startup itself. This brand licensing is a great opportunity for us, even for a longer phase, said Suri. This will become a significant area for potential deals when the number of consumer electronics firms may possibly use Nokia’s name on their product in exchange of heavy compensation.

An example related to brand licensing was given by another company’s executive where he underscored the Porsche Design Company with which Nokia will possibly set a deal.

At this time, Nokia is not associated or set to make any brand licensing deal but sooner or later, its brand name will be displayed on the number of consumer electronic items, not restricted to mobile categories. “This is not a sentimentality issue,” said Suri. It has already showcased an interest building strategy to bring up a tablet named Nokia N1, with many people praising it!

Microsoft has recently announced that their upcoming Lumia 535 Smartphone will not contain Nokia name, the business which was acquired by Microsoft early in April.

There was a time when Nokia was our world’s dominating brand in mobile phones, but in this age, the ranking has dropped from 5th position in 2007 to 98th in the current year, reported from a survey report conducted by Interbrand, market researcher.

The slide came after first Apple Inc and then Samsung Electronics entered the Smartphone market to successfully challenge the Finnish company's decade of market leadership.

This slump started when Apple Inc started came into existence and then Samsung entry in mobile phone industry has captured a big market portion after launching back to back incredible ranges of phones that shattered and has now finished the ‘X’ supremacy of Nokia.

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