05-04-2009, 12:54 PM
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Join Date: Dec 2008
Location: India
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Nokia | | Mail to friend | Ranked at no. 13 in the over all list, world's largest cellphone manufacturer, Nokia has a brand value of $35,163 million. The company's brand value saw a dip of almost 20 per cent over last year's.
Last one year has been tough for the mobile giant whose portfolio includes products ranging from high-end to low-end cellphone models, Internet services and music store. Nokia, which made its first-ever quarterly pretax loss in January-March, is cutting annual costs at its key handset unit alone by more than 700 million euros ($911 million) to counter plunging demand.
Nokia's financial results clearly reflect the weak demand for mobile phones amid the economic slump. Also evolving market for smartphones seems to be another reason for weak results. Nokia said it would reduce investment in creating new services, helping it to cut further jobs.
During last year, Nokia has strengthened its focus on services. The company is turning from hardware to software and services. Several of the company's recent launches aim to direct users to its Internet services instead of Google's, or to its music stores instead of Apple's iTunes.
Also, the company is fast shedding its conservative design appeal, and is turning its attention to clamshells, thin phones, and touchscreens. | |
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