If to believe the edition named The Verge, this week Nokia is going to decide the fate of its brand. This is going to happen within the scope of the forthcoming conference named Slush, which is to take place in Finland in a couple of days. This conference gathers Finnish startups.
In particular, Market Leader reports that the Finnish vendor is currently working on the strategy aimed at restoring the Nokia brand after the company sold its mobile business to Microsoft for 7 billion dollars.
Nokia's CEO revealed the company's near-term plans a couple of days after Microsoft's Lumia 535 came to market. One of the plans concerns returning to the international market of consumer electronics. This statement was made during the CEO's speech in front of investors in London.
With that said, instead of starting a new launching a new business to manufacture mobile devices, the company seems to be planning to outsource the production of various consumer devices to other tech companies but under the Nokia brand.
It should be noted that under the agreement signed with Microsoft, Nokia cannot use its brand to manufacture smartphones until late 2016. As for conventional mobile phones, the ban will last for 10 years. Still, there are no limitations when it comes to other consumer devices, which gives Nokia the right to enter other niches, Masterforex-V Academy reports.
Meanwhile, the value of the Nokia brand is declining. that is why Nokia is now aimed to restoring its image. For now, NOkia is focused on 3 major business structures: Networks, Enterprise and Technologies.
As for Nokia's stock, it has gained 0,19% today and is currently trading close to $7,97 per share, which is confirmed by the chart below courtesy of MAsterforex-V Academy.
