Soon after losing the number one spot to smartphone king Samsung as world’s biggest handset vendor, Nokia is trying hard to bounce back. The Finnish mobile company has announced to launch a range of tablets and "hybrid" smart mobile devices.
Nokia’s outgoing Chairman Jorma Ollila promised the launch of new products ahead of a meeting on Thursday with shareholders who are increasingly losing patience with the company's recovery efforts.
In the week that he leaves the mobile phone company after 27 years, Mr Ollila said “Nokia could regain its brand market value from its recent slump in sales and profits with exciting ‘form factors’ for devices and exclusive services.
Nokia is widely expected to unveil its first tablet computer later this year when Microsoft's new Windows 8 operating system becomes available.
According to reports, Ollila said “Nokia had been too slow at the start of the smartphone revolution, when phones started to become internet connected. Tablets are an important one, so that is being looked into, and there will be different hybrids, different form factors in the future".
The company has struggled since 2008, after failing to create a competitive platform for higher-margin smartphones in the face of competition from Apple and Samsung, coupled with a more recent decline in sales in core emerging markets as it battles cheaper Asian handset makers.
Sales of Nokia's new smartphone range have so far been slow and are yet to compensate for diving sales of previous products. The company got a taste of tougher-than-expected competition as it posted a net loss of Euro 929 million ($1.2 billion) in the first quarter of 2012, as sales plummeted, including for smartphones.
Once hailed as a national hero in Finland for transforming Nokia from a toilet paper-to-rubber boots conglomerate to the world's No 1 cellphone maker in 1998, Ollila has since come under criticism for neglecting the emergence of smartphones.
Will this move help Nokia regain the top spot? Will the Finnish telecom giant outshine its Korean counterpart in smartphone business? Share your thoughts
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