Nokia, which has lagged behind competitors when it comes to slim phones, is finally riding the thin phone train. The company launched four new handsets --including the highly anticipated Nokia 6300 slim phone--and said it was revamping its phone-making process to offer thinner models across its portfolio of phones. Additionally, Nokia told analysts yesterday that it expects lower profits in the next one to two years and slightly downgraded operating profit margin expectations to 15 percent from 17 percent. The blame primarily lies in the network business, but Nokia also slightly adjusted targets for the handset division. CEO Olli-Pekka Kallasvuo said during an investor conference that Nokia will keep moving into adjacent markets such as the Internet, to maintain growth. He said a Nokia-branded music service is "definitely a possibility." Nokia may be the most popular brand for mobile devices, but can its brand resonate beyond this market?
For more about Nokia's margin slip:
- read this article from The Wall Street Journal (sub. req.)
- take a look at this report from Financial Times