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A Navteq vehicle is spotted on a Finland street, updating and verifying its maps.  (Source: navigadget.com)
Will incorporate Navteq into broader services business

Amid all 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.
 

According 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 business," Hannu 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 plans. 

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.





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