ESPOO: Finnish mobile handset maker Nokia will prioritise the development of new mobile solutions in a bid to build its brand over the long term, the firm's chairman has indicated.
In an interview with the Financial Times, Jorma Ollila said that launching innovative "hybrid" devices, cutting prices for emerging world customers and developing new location-based software could all form a part of Nokia's business strategy going forward.
Over recent months, the firm has suffered from an erosion in its market share, with figures released last week by Strategy Analytics indicating that Samsung has recently become the world's number one handset maker.
According to the report, the Korean firm built its worldwide market share from 19.3% to 25.4% over the year to Q1 2012.
Over the same period, Nokia's share fell from 30.4% to 22.5%, with sales squeezed by increased competition from cheap feature phones at one end of its product range, and from Android-powered smartphones at the other.
"This is about making sure you can build in a comeback, or a recovery, after a miss," Ollila said. "The strong ones are separated from the weak ones in how they work through these cycles and demonstrate that they can come back."
In terms of NPD, the Nokia chairman highlighted the firm's product partnership with Microsoft as offering potential for driving innovation. The deal, announced in 2011, means that new Nokia smartphones coming onto the market are powered by the US firm's Windows operating system, rather than Nokia's proprietary Symbian software.
"Tablets are an important one, so that is being looked into," Ollila added. "And there will be different hybrids, different form factors [handset designs] in the future."
Data sourced from Financial Times/Warc; additional content by Warc staff