Nokia Oyj (ADR) (NYSE:NOK), which happens to be a one-time cell phone champ, has lately been considering taking full advantage of its brand recognition in its new business endeavor-bathroom scales sale.
The top phone provider had succeeded in making itself a name as a phone provider and its impact was greatly felt in the market. As a matter of fact, the market dynamics as well as some internal business challenges had later on crept in and as a result negatively impacting the phone company.
After a short while of soul-searching and strategizing, the company’s board of directors has decided to dedicate resources to a new field of business in which it hopes to take advantage of its flamboyant business operations in the past to give a major lift to its new business endeavor and as a matter of fact hopes to be a super power again, but this time around in a different field.
The news about this top provider hitting the markets with a new impact in the production of the consumer-electronics has been the high talk in the market.
However, it is important to also move ahead as say it as it actually is considering that its new move in as much as it has been celebrated by a large group, it has also in an equal measure raised eyebrows with a lot of people questioning whether or not the comeback would see the company restore its lost glory and by matching up to the standards it had set earlier on.
It has also been quite a major challenge to a lot of people to change their perception of the company from its earlier activities that brought it to fame to the new shift the line of production.
According to one of the company’s top executives, the company looks forward to becoming more vibrant and the idea of it having the capacity to sell about $100 bathroom scales within some set timeframe would mean so much to the overall business.
It was back in 2014 that the company had abandoned the sale of personal devices to instead focus making equipment for the different cellular tower as well as some other infrastructure that could facilitate modern communication.