Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Nokia Corporation (NOK) to Add 2 Phones, Move European HQ

Nokia Corporation (NYSE:NOK) CEO Stephen Elop has been busy trying to not only keep his company alive (laying off thousands of workers earlier this year) but also trying to ignite a revival of the handset maker in the mobile phone – and more specifically, the smartphone – marketplace. Now, two other recent announcements confirm again that Elop is doing both jobs simultaneously.

Nokia Corporation (ADR) (NOK), Microsoft Corporation (MSFT)

Nokia Corporation (NYSE:NOK), as part of its new strategic initiative and company reorganization, announced plans to move its central and eastern Europe headquarters from Vienna, Austria, to Budapest, Hungary. With Europe serving as Nokia’s largest current market – responsible for about 30 percent of the company’s total sales in the second quarter of 2012 –  a move like this would have to be carefully planned so as to not cause too many disruptions. However, the company has said it was already closing one factory in Hungary.

This decision was still in the “planning phase,” so no details about the move were made by Nokia Corporation (NYE:NOK) – when the move would take place, whether there would be transfers or layoffs of employees, etc. The company would only say that it would retain a sales force in Austria after the move is made.

While Nokia Corporation (NYSE:NOK) reorganizes itself on one side of the world, it is looking to revitalize itself on the other side of the world. A couple of sources have reported that the company would unveil two new phones to its Lumia line at its joint press conference with Microsoft Corporation (NASDAQ:MSFT) Sept. 5 in New York. All that is being reported is that the new models are codenamed “Arrow” and “Phi,” with the latter being a top-of-the-line phone made available through AT&T Inc. (NYSE:T), and the former serving as a mid-level phone for AT&T and T-Mobile USA customers. Both are expected to run the Windows 8 Phone operating system.

These just might be the news that continues the slowly building momentum of Nokia Corporation (NYSE:NOK) as it attempts a comeback in established markets for smartphones. Certainly some key investors have their eyes on this news, including hedge-fund managers like  Jim Simons of Renaissance Technologies.

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

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 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!