Nokia Corporation (ADR) (NOK) Welcomes Competition in this Area

There has been a lot going on with Nokia Corporation (ADR) (NYSE:NOK) as of late. We have discussed some of the company’s most recent changes in this piece, and there are sure to be many updates to come in the following days.

Nokia Corporation (ADR) (NOK) Welcomes Competition in this Area

One of the most interesting stories over the past day is related to Nokia’s Mix Radio service, which now has some competition in the form of Apple Inc. (NASDAQ:AAPL) iTunes Radio.

While many would believe that an entrance by Apple into the market is sure to bite into Nokia’s market share, the company doesn’t seem to be too worried about this. In fact, it is welcoming Cupertino to the party with open arms. Sounds strange, doesn’t it?

Should Nokia Corporation (ADR) (NYSE:NOK) be Worried?

Apple recently revealed its plans to unveil it streaming radio service next week. While this is good for the iPhone maker, the competition has to be wondering what it will mean to this market as a whole.

Interestingly enough, Nokia Mix Radio has been in this space for quite some time. In other words, Apple is late to the party.

Earlier this year, Nokia Entertainment CEO Jyrki Rosenberg made note that Apple is lagging behind when the announcement of iTunes Radio was first made. He said, “We launched our streaming radio service in 2011. It’s interesting to see Apple react now and it seems they continue to play catch-up.”

Well, the time has come for Apple to begin playing catch-up. Its service is about to launch, and Nokia Corporation (ADR) (NYSE:NOK) will now be faced with some serious competition.

The real question is this: how long will it take for Apple to take over the market? Even more so: will Cupertino have what it takes to move to the top?

In a recent piece by Justin Harp of Digital Spy, Rosenberg didn’t shy away from the competition. In fact, he embraced it. “It’s good to see the launch of Apple’s radio service.”

This developing story is worth watching on a number of levels. Everybody wants to see what iTunes Radio will be able to accomplish, but at the same time it will be interesting to keep tabs on how Nokia Corporation (ADR) (NYSE:NOK) continues to develop in this space.

If you are a Nokia investor like fund manager Ken Griffin, or even a Microsoft investor like fund manager Jeffrey Ubben, what do you think about this?

Disclosure: none

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!