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Nokia will not return to the phone building business, but could license name out

Written by Andre Yoskowitz (Google+) @ 15 Nov 2014 11:34 User comments (1)

Nokia will not return to the phone building business, but could license name out New Nokia CEO Rajeev Suri says the company is looking to revive its brand name in the consumer electronics market, but they will not be building phones again.
"I think you can expect our brand will return to the consumer world," said Suri. The telecom equipment maker sold its struggling handset business to Microsoft earlier this year, and Microsoft just unveiled their first smartphone with Microsoft branding rather than Nokia's.

Suri says the easiest way to get back in is to license the name to other OEMs who will bank on the name recognition. "We see brand licensing as an opportunity ... But I would say it is more of a long-term opportunity," Suri added. "This is not a sentimentality thing."

Nokia was once the biggest phone maker in the world, and Interbrand says its brand ranking was as high as #5 in the world, as recently as 2007. It has since fallen to the #90s.

Source:
yle

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1 user comment

116.11.2014 19:40

"the easiest way to get back in is to license the name to other OEMs who will bank on the name recognition"

i.e. Let people put our name on generic Chinese crap products (like Polaroid did)

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