its turmoil, Nokia is in scrambling to stay relevant (and profitable).
The latest evidence comes from a Reuters report that says Nokia is yet again revamping
an arm of its business. The latest change finds the company incorporating
Navteq — the independent digital-mapping unit Nokia
acquired for $8.1 billion in 2008 — into its broader services business.
to Pyramid Research, map-linked advertising is set to grow to more than $6.2
billion by 2015 though location-based services like the ones Navteq provides.
"Logically this makes sense, they merge the
standalone Navteq unit with the separate location-based services
Rauhala, an analyst at Pohjola Bank, told Reuters.
The combined unit will now be called the Location
& Commerce business line, with Michael Halbherr — "an outspoken
executive" according to Reuters — leading it. Halbherr joined the company five years ago
and headed Nokia's massive acquisition of Navteq, the largest in the company's
nearly 150-year history.
Nokia's stock price has been slashed in half over
the last four months after intensified market share losses prompted
the company to lower its quarterly and year-end profit outlook. Then, another
high-ranking executive, CTO Richard Green, abandoned
ship over disagreements of its software management
With the first Windows Phone-based Nokia models
not arriving until
some time next year and competition from Android and Apple increasing,
things are bound to get worse before they get better.
quote: Nokia's stock price has been slashed in half over the last four months after intensified market share losses prompted the company to lower its quarterly and year-end profit outlook.