Will Nokia’s New Smartphone Gain Market Share?
Nokia 8 priced at over $700
Nokia (NOK) recently launched the Nokia 8, which is HMD Global’s flagship phone this year. Earlier this year, Nokia announced that it will be licensing its brand to HMD Global, which will be manufacturing the smartphones in Vietnam.
Nokia is re-entering the smartphone market after selling its device business to Microsoft (MSFT) in 2014. Last year, BlackBerry (BBRY) also announced a brand licensing agreement with several manufacturers in Asia.
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The Nokia 8 is priced at approximately $700 and is expected to compete with Apple (AAPL) and Samsung (SSNLF) in the premium smartphone segment. Nokia 8 comes with a lens technology licensed from camera maker Zeiss. This technology enables dual-sight video, through which customers can live-stream videos using the front and rear end camera, resulting in a simultaneous split screen.
Nokia 8 also bears an audio OZO spatial 360 technology, and the phone is expected to launch in major markets by October 2017.
Competition from Apple and Samsung
Nokia will compete with market leaders like Samsung and Apple. Chinese manufacturers including Huawei, Oppo, and Vivo have also been gaining market share in emerging markets over the past few quarters.