Nokia’s mobile and services division might be in the possession of Microsoft’s hands, but that still does not negate the Finnish phone maker from existing as a separate company. While Microsoft’s acquisition terms did state that the software giant was going to remove the Nokia brand name from its Lumia brand of Windows Phones, the former king of mobile phones is now shifting its focus on to mapping and network infrastructure.
Nokia will begin this phase by licensing the company’s brand. This will allow different manufacturers to start making products that will exhibit the Nokia name. According to President of Nokia Technologies, Ramzi Haidamus stated that after Microsoft had acquired its phone business, the company will be adamant on taking advantage of its brand name in the future.
Currently, Nokia has been restricted from entering the smartphone market until the end of 2016 along with being barred from making features phone for an additional 10 years. Haidamus has said that instead of focusing on two key areas where the company will have very limited success thanks to the acquisition terms, the company is now aiming at increasing its revenue through the aforementioned proposition.
There is speculation that the company will be looking to license its name to smartphone manufacturer by the 4th quarter of 2016. However, according to Nokia’s CEO, Rajeev Suri, brand licensing is the technological firm’s primary goal. The CEO has also said that the company has a phalanx of designers and software engineers under its employ that will efficiently guide other companies to use the company’s brand name effectively.
Haidamus was quick to mention that while the company’s brand name is omnipresent, its significance is quickly fading, and that expediting the brand licensing process will be paramount to the company’s existence and success in the near future.