Nokia May re-enter Smartphone Market in 2016
- Gayathri Mathivanan
- February 25, 2016, 4:19 AM
Nokia has confirmed it plans on selling Smartphone’s again.
Nokia CEO Rajeev Suri announced the company’s intention to return to the sector it once dominated during a press conference at MWC 2016 in Barcelona, Spain. “There’s no timeline, there’s no rush,” said Suri at the event. “It could happen in 2016, it could happen later.”
Nokia, a 150-year-old company, started life in the forestry and power industries before becoming a hit mobile manufacturer during the growth years of the feature phone era in the 1990s and early 2000s.
Nokia sold its Device & Service (NDS) business to Microsoft in 2014. The deal between these two companies meant Nokia was barred from making Smartphone’s until the second half of 2016, according to Venture Beat.
Nokia said it would return to the market, "in a completely different way from before," that is through the "brand-licensing" model, for which it was looking for a partner.
"We want to be in a position to design the device in question with appropriate control measures in case they don't meet expectations," said Suri. When asked about whether Nokia would partner with Foxconn, Suri said he did not know yet.
Nokia believes that it has the potential to create a stir in the Smartphone market and for that the company is likely to aim at a "premium device". According to Suri, "The gratitude of brand is still very good in major markets. We think it's a good business model."
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