Nokia’s smartphone presence is overshadowed by more successful manufacturers such as Samsung, Xiaomi, Oppo, and others. The company’s most recent flagship phone was released in 2021, but it failed to catch the market in the same way that its budget and feature phones had.
As a result, Nokia’s parent company’s CEO, Adam Ferguson, has stated that the business is exiting the flagship market. “Making an $800 phone doesn’t make sense for us right now,” he remarked in an interview with Android Authority.
Instead, Nokia will begin focusing more on its core business, which is entry-level smartphones, mid-range smartphones, and feature phones, for the time being.
Nokia wants to be known as the company that makes phones that last for years, have long-lasting batteries, and are reasonably priced. Recently, the company announced extended warranty plans in a few markets.
Indeed, the company’s new strategy is working. Nokia recently celebrated its first full fiscal year of profitability. The brand has been profitable since the third quarter of 2021, and the fourth quarter of 2021 was the company’s most successful quarter in history.
HMD Global has big plans for Nokia in the future. It aims to make Nokia the number one brand in pre-paid smartphones in the United States by the end of 2022.
The company also intends to test the waters by dividing its services into distinct divisions, including a separate wing for business users.
To read our blog on “Nokia is launching PureBook Pro laptops all over the world,” click here.
