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Nokia Plans 40 New Handsets in 2004
Mar 26, 2004
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Mobile phone maker Nokia (Helsinki, Finland) expects to launch 40 new mobile handsets again this year -- which is the same as it launched last year -- Nokia Chairman and CEO Jorma Ollila said during the Nokia Annual General Meeting.

Mr. Ollila outlined how the transformation in the mobile communications industry and Nokia's strategy and new organization position the company for the future.

In his speech, Mr. Ollila also reviewed the 2003 annual results, Nokia's strategy, Nokia's compensation philosophy, and proposals.

"As a part of expanding mobility into the different areas of our lives, businesses and communities, Nokia launched a record 40 new mobile devices last year, and we expect to launch a similar number in 2004," he said. "Our product portfolio will continue to be very competitive and will offer mobile devices that change the way we work, play, and stay connected to the people and information that matter to us."

A convergence of the mobile communications, information technology, and media industries is creating opportunities for Nokia to develop new products and services in the areas of mobile games, multimedia, and enterprise solutions, the company said. Guided by the vision of '"Life Goes Mobile," Nokia views mobility as enabling people to move about more freely and to bring their digital content and applications with them.

In 2004, Nokia says its strategy continues to focus on three key activities: expand mobile voice, drive consumer mobile multimedia, and bring extended mobility to the enterprise.

"We have been following the trends in these markets for many years, and we shaped our strategy and business to establish a strong and visible presence," Mr. Ollila said during his speech at the meeting. "Increasing data traffic and the readiness of people to use their mobile devices for different tasks suggest that the multimedia and enterprise solutions markets offer new business opportunities."

So far this year, Nokia has launched seven handsets, including its first high-resolution camera phone, according to a Reuters report.

"The announcement on phone launches could be a response to market feelings after the CeBIT, that too few phones have been launched," said FIM Securities analyst Jussi Hyoty, who has a "buy" recommendation for Nokia shares, according to the report.

Research group Gartner said this month it expected 580 million phones to be sold globally in 2004, an annual rise of some 12 percent, also according to the report. That compares with expectations of about 10 percent from Nokia and Siemens.

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