Nokia, the once recognized as an undisputed cellphone giant in the past, is on its way to a great revival in history. It even outperformed its Swedish rival Ericsson in the first quarter report of 2017 owing it to Alcatel-Lucent recent acquisition back in 2016.
The Finnish company was placed in a better stance to win a future competition, analysts say. It has reported a decrease in sales decline on Thursday, hence showing significant signs of market recovery. The business force is going well with Nokia as their first-quarter sales report was down this year at only 6%, comparing it to their last quarter drop of 14%. Its competitor, Ericsson, reported a 13% drop in its first-quarter revenue.
In other related news, Nokia is paving its way back into the gadgets business. Its consumer-electronics comeback keeps the company hoping that its sales will grow in 2017. Chief Marketing Officer of Nokia’s Division supervising consumer products, Rob Le Bras-Brown, even said, “We’ve got great permission to win this category… We think we’re pushing against an open door here.”
Executives at Nokia are hoping to diversify the firm by braving a venture into a wide array of gadgets. The Finnish company is planning to release a cheaper model of the Ozo for enthusiasts (a virtual-reality camera released for professional filmmakers a year ago). Another is its project to revamp the classic Nokia 3310 candy-bar phone soon. It also has acquired Withings (a digital-health-device startup located in Paris) which is into producing health devices like fitness-tracking watches, body-temperature thermometers, air-quality monitors and bathroom scales which can measure current body fat.
Le Bras-Brown further states that, “My challenge is that people don’t just see this as a gadget… this is a health product. This is for people who have a trigger event, like a doctor’s moment, people who are told to start taking their blood pressure midlife or somebody who realizes their metabolism has changed and wants to get healthier.”
Such devices can be connected to a smartphone app like those being offered by Fitbit Inc. the internet-connected devices are set to be stamped by Nokia’s all-caps logo this summer.
Investors still believe that the former cellphone giant still has legs to go further the competition. The reduction in the year-over-year decline is already a positive sign that the stock is re-establishing itself. The current shares of Nokia traded by 1.93% to 5.29€ which is up by 0.10 from the previous day.
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