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Expect Nokia's Lumia tablet to look like a million bucks

Nokia Oyj. (HEL:NOK1V) is still financially recovering from a dismal 2011, but its sacrifice may be worth it.  The rejuvenated company is turning heads with sleek smartphone designs like the Lumia 800 and Lumia 900 Windows Phones.

Now one of its top executives has made the rumors (virtually) official -- it will enter the tablet market later this year.

Speaking to Finnish magazine Kauppalehti Optio, Nokia design chief Marko Ahtisaari confirmed, "We are working on it."

Humorously, Nokia's official spokesperson reused to give any information or repeat the confirmation on the coming device.

While Mr. Ahtisaari did not mention what operating system the tablet uses, Nokia's firm commitment to Microsoft Corp. (MSFT) makes it all but inevitable that the device will use Microsoft's upcoming Windows 8 operating system.  Reportedly Nokia's long expected tablet entry will have a  dual-core Qualcomm Inc. (QCOM) ARM-architecture system-on-a-chip, likely one of the Snapdragon 4 variants, lurking inside and will have its internals designed by Taiwanese ODM Compal Electronics, Inc. (TPE:2324)

Nokia 10 inch tablet
Nokia is confirmed to be preparing a Lumia Windows 8 tablet.  [Image Source: The Verge]

The tablet market is a marvelous opportunity for Nokia.  Apple, Inc. (AAPL) is reportedly preparing to shatter sales records with its highly anticipated Retina display-equipped new iPad.  The budget end the Android-derivative Kindle Fire sold close to 5 million units in just 3 months.

That said, there's also substantial risk of disappointment.  Hewlett-Packard Comp.'s (HPQ) TouchPad saw terrible sales, prompting the company to kill the device and clearance off its stockpiles (which ironically caused a huge spike in sales).  Likewise, Canadian smartphone maker Research in Motion, Ltd.'s (TSE:RIM) debut tablet -- the PlayBook -- has been a major sales flop, causing the company to miss its earnings targets.

Source: Reuters





"Well, we didn't have anyone in line that got shot waiting for our system." -- Nintendo of America Vice President Perrin Kaplan



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