What does a smart company do during a recession? Focus on profits, according to Nokia chief executive Olli-Pekka Kallasvuo. Sounds simple enough, but it’s not really. Nokia, in preparation for what analysts foresee as an average 6.6 percent decrease in 2009 cellphone sales volumes, purchased a dozen companies in 2008 including its $8.1 billion NAVTEQ acquisition. All of Nokia’s buys have been part of a focused attempt by the company to grab a piece of the internet market in order to pad its profit margins.
I would have to agree that Nokia has done a great job in positioning itself well heading into 2009. It’s online Ovi service is fully functional and doing well and with a major presence in many of the worlds emerging mobile markets, Nokia actually aims to expand its cellphone market share globally in the new year. Now if only it’d hop on the Android bandwagon I’d be perfectly happy.
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