Nokia CEO: Nokia design NOT sold to Microsoft, Back to consumer products maintaining Nokia FEEL in ALL products

Rajiv Suri speaks to Times India.

http://timesofindia.indiatimes.com/tech/tech-news/Nokia-CEO-Rajiv-Suri-We-will-maintain-the-Nokia-feel-in-all-our-products/articleshow/46231813.cms

The story returns to the Chennai factory, which is still frozen and unable to be sold. He says however that they’re close to selling it. 2M electronic equipment was made there last year, 50% exported. Perhaps the meeting with Prime Minister, Narendra Modi, may soon help with the un-freezing process?

Suri is proud that Nokia seems healthy again, with a 27% increase in dividends compared to last year. 2014 ended with $5 billion in cash AFTER returning $1.8B back to shareholders. He does however state that there is always debt even if there’s cash, but this puts Nokia in a better position credit rating wise, thus making their debt cheaper.

With regards to returning to the consumer world, the tablet was the first sign to test the waters and what long term opportunities arise. Nokia is particularly loved in India, China, and Russia so may concentrate efforts there first, starting with China one step at a time. Nokia will also be looking for opportunities to license their brand. They do the design which they did NOT sell to Microsoft…thus NOKIA can maintain the Nokia feel in their products.

Cheers Alvester for the tip!

Category: Nokia