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Nokia confirms it won’t be returning to smartphone market

Nokia has finally confirmed that it won’t be returning to the handset industry, after more than three decades of mobile phone manufacturing.

Rajeev Suri, Nokia’s CEO, made the announcement at an analyst meeting in London today, saying: “We are not looking to a direct consumer return to handsets.”

Suri did add however that the “brand will return to the consumer world”, reportedly through licensing deals somewhere down the line.

The Nokia brand is extremely powerful and we see considerable interesting in licensing. We will pursue it…in a thoughtful and considered way.”

Nokia sold its mobile phones division to Microsoft back in September 2013, a deal that closed in April this year.

Microsoft snapped up the firm, known for its Lumia handsets, for a sizable $7.17bn sum.

The Redmond-firm unveiled its first Nokia-less Lumia handset last week – the Lumia 535. It was the final nail in Nokia’s handset coffin.

Nokia now hopes to focus on its three remaining divisions: the Networks unit, the Technologies unit, and the Here mapping subsidiary.

Suri reckons there’s plenty of growth in store for these divisions in the future, pointing out that Nokia has ‘gone from a long period of decline to our first period of year on year growth since 2011.’

The Finnish firm is now spending cash on 4G to make up for losses garnered from older and more ailing network tech.

Nokia will also invest in the Internet of Things, with Suri revealing the company is ‘exploring big opportunities in the IoT, which could include analytics and machine-to-machine connectivity platforms’.

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Via: ZDNet