Nokia Visualizes Success Path with Strong Net Profit of $733 Million

Must Read

Elon Musk Added Over $100 Billion To His Net Worth In Just 1 Year, Leaves Jeff Bezos Behind

Jeff Bezos may the world's richest person in the world but it's Elon Musk who has been...

iPhone 12 Plagued With Serious Problems: Should You Buy It, Still?

A serious problem with Apple iPhone 12, identified recently, is good enough to give a second thought...

Elon Musk Overtakes Bill Gates And Becomes the 2nd Richest Person in the World

It's been a good week for Elon Musk and his electrical vehicle business Tesla. Earlier this week,...

Troubled but still world’s largest mobile handset maker Nokia announced its third fiscal quarter result which comes to many as surprise but surely a good sign for company as well as investors. Compare to loss of aprox USD 700 million from the same quarter in last year, Nokia has posted a strong net profit of USD 733 million this year. However, the good news also carries disappointments for employees as company decides to cut down 1,800 employees to “simplify operations” specifically for Symbian Smartphone operations as claimed by company.

Nokia is also planning change-over to its integrated line of Ovi store which is currently available to complete range of handsets across the globe, rather than providing end-to-end line for particular services.

Company is currently going through some of the tough time in the history of its existence. Constant growing competition from Android, Apple and RIM is already keeping Nokia on its toes. The recent change in leadership is an example of such situation.

Advertisements

“Changes impacting personnel are always difficult,” said Nokia executive VP of human resources Juha Äkräs, in a statement. “The announcement today is the result of careful evaluation and planning; the plans have now been reviewed and endorsed by the new management.”

Despite the strong third quarter result, Nokia is expecting to see further improvement from the result of forth quarter. Recent launch of Nokia N8 and C3, company’s recent bet in smartphone for business users and cost constraint users subsequently, will help to regain its undisputed leadership in mobile handset market. Company has also lined up few – much anticipated – business smartphones like E7 which are scheduled to be launch in this quarter.

However, things are not proving to be faithful for Nokia – at least for now. Recent play down of MeeGo by Intel is a latest setback for the company. Nokia has sensed the strong need of a transformed mobile OS to beat Android, iOS and RIM mobile OS. To stay afloat in the new transformed mobile OS market Intel and Nokia are jointly creating MeeGo – a new mobile OS – meant for smartphones and tablet devices. As a result, Nokia says it will no longer refer to monolithic Symbian releases like Symbian^3 and Symbian^4: instead, the platform will be developed in a process of “continuous evolution.”

The unexpected departure of Symbian Foundation’s Chief is another recent setback for the Nokia in a row. As a result Symbian platform has suffered major defections from handset makers like Sony Ericsson, LG, and Samsung. Undoubtedly, Nokia is betting high with upcoming MeeGo platform which will hit the market in early 2011 as per Intel. If it witnesses the success, as expected by Nokia, it will put back the company again in front and middle of the mobile and OS market. Interestingly by then, iPhone will have been on the market for nearly four years and the third version of Android –Android 3.0 will be in the market to challenge the new born baby.

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Backed By First-Time Shoppers, Flipkart And Amazon Dominated Festive Online Sales in India

It seems like Flipkart and Amazon squeezed the most out of the month-long festive season in India...

Amazon Gets Slapped With Penalty As GOI Prepares To Tighten The Noose On Ecommerce Players!

In a recent move, the Indian Government slapped Amazon on its wrist for not mentioning the country of origin detail for products...

Facebook’s Past Comes Back To Bite As South Korea Fines Them For 2018 Scandal

The social media behemoth Facebook Inc. (NASDAQ:FB) has once against proved they are the true arch-nemesis of modern-day user-privacy!

Amazon Future Group Dispute Deepens As Singapore Court Turns Down Future Group Plea

The dispute between Amazon and Future Retail is, apparently, far from over anything soon as the Singapore International Arbitration Centre (SIAC) has...

Google Pay Fee On Instant Transfer: An Indication Of Google’s Aggressive Monetisation Strategy?

Google has decided to levy fee on instant payment, starting from the US market. A few days back, Google...

Twitter Account Verification Is Back, But Has it Lost Its Mojo?

Twitterati queue up! As the Twitter account verification process which is responsible for awarding blue badges prepares to...

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter,...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one...

More Articles Like This