Nokia's new phones: Nokia Corporation (ADR) (NYSE:NOK) plans to launch six new mobile devices including its first tablet in its anticipated Innovation Reinvented event, to take place Oct. 22nd in Abu Dhabi, according to people familiar with the situation. This is the first major product release since the Finnish firm announced that it would sell its Devices & Services business to Microsoft Corporation (NASDAQ:MSFT).
After the company has been sending out several teasers through its Twitter account, expectations are high amongst analysts and investors. Sources say that the event will feature the unveiling of several Lumia smartphones that operate Microsoft's Windows Phone OS, and lower-end devices running on Nokia's S40 software. Enthusiasts expect the Nokia Lumia 1520 Windows Phone phablet to be amongst the devices officially reveled. In addition, the company’s fist tablet –running Windows 8 software- will be presented on this date. However, a Nokia spokesperson refused to comment on the speculation.
According to the International Business Times, “the Nokia Lumia 2520 tablet reportedly boasts of a 10.1-inch Full HD IPS screen display, 2GB of RAM, up to 10 hours of battery life and 32GB internal storage capacity that can be expanded through the available microSD card slot. A previous report on the Nokia Lumia 929 suggests that the smartphone is set to arrive at Verizon before 2013 ends.”
Nokia faces stiff competition for both its phones and tablets. Apple’s new iPhones and the launch of a new iPad, expected for the fourth quarter, are amongst the strongest contenders. The Finnish maker’s tablet also needs to tackle competition from the Surface 2, Microsoft's revamped tablet presented last Wednesday.
With this new product line, Nokia hopes to recuperate some of the lost ground. Its smartphone suite has been lagging for some years now, and has cost the company an important portion of its market share. The Microsoft deal is certainly expected to ameliorate the situation, providing cash for promotion and cohesion between software and hardware design, several company executives have declared.
“Better funded and coordinated advertising efforts will help fend off the rivals that have been stealing one-time Nokia buyers in recent years” (WSJ).
According to several third party research firms, the Finnish company’s marketing budget for its phones in 2012 was about 19 times smaller than Samsung Electronics Co., Ltd. (KRX:005930)’s and 15 times lesser than Apple's. So, higher spending on promotion couldn’t hurt. For more news on Nokia's new phones, check back here.
Disclosure: Javier Hasse holds no position in any stocks mentioned