Nokia is all set to unveil its deal with Microsoft that shall help in boosting its position in the Smartphone Market. Investors have had their eyes glued to this revelation for a while.
Nokia has been able to incur profits beyond expectation in the first three months of the year 2011. It is now down by 1% to about 344m Euros. With cheap rivals and excessive competition in the market, the shares of the firm fell by 4% to 29%. The new deal that Nokia is of the hope of binding with Microsoft shall help them retain their dominance in the market. When the investors eyed this new deal, the shares of the firm rose by an additional 3%.
One of the key areas of concern for the investors is the slow response by Nokia towards the Smartphone launched by Blackberry and Apple.
Stephen Elop, Chief Executive said, "In the first quarter, we shifted from defining our strategy to executing our strategy. On this front, I am pleased to report that we signed our definitive agreement with Microsoft and already our product design and engineering work is well underway”. The new deal shall be able to open newer avenues for the firm.
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