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Nokia revising strategy

Nokia revising strategy

In the face of stiff competition in the smartphone market and in the wake of lukewarm receptions to its recent smartphones, Nokia is hoping to bolster investor confidence when it holds a day of talks and demonstrations next week.

The annual event held by Nokia in order to make predictions about its performance over the coming year, will see a mix of investors and industry analysts meeting to share their hopes and concerns.

As a result of the global recession, Nokia has found it impossible to meet predicted margin expectations set at last year's event and all manufacturers have seen their sales take a hit as consumers cut back on spending.

Nokia is hoping that as demand begins to rise and confidence returns to the market it will be able to recoup the 19 per cent nose dive in share prices experienced over the course of 2009.

Key industry analysts have already agreed that Nokia will see growth over the next year, but the debate now centres on just how much growth it will manage to achieve.

Nokia is expected to benefit from the continued smartphone boom and as the price of high tech handsets falls it will be able to make smartphones a common commodity.

Nokia's main rival in the smartphone market, Apple, has managed to make significant gains at Nokia's expense. However, as the legal wrangling over patent infringements continues, it seems as though Nokia may be able to recoup some of that money if a royalties deal is eventually reached.

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