Why Is Nokia Oyj (ADR)(NYSE:NOK) In Focus?

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HMD Global Oy introduced its latest Nokia Oyj (ADR)(NYSE:NOK)-branded smartphone in a first attempt to win over Apple Inc.(NASDAQ:AAPL) and Samsung Electronics Co Ltd clients. As updated earlier, the Nokia 8 will be offered in September and will sale for a global average price of $703. The firm, which commenced operating last year with an exclusive license for Nokia-branded devices, has so far focused its initiatives to resuscitate the Nokia brand on cheaper smart devices and a revamp of the classic Nokia 3310, first offered in 2000.

The details

In February, HMD introduced the Nokia 5 and Nokia 3 smartphones, priced at 189 euros and 139 euros, respectively. Juho Sarvikas, the Chief Product Officer of HMD, reported that now marks as the perfect time to launch the model, which he explains as a flagship offering. The phone will showcase a “dual-sight” video and photo function, in which images from the rear and front cameras will be displayed at the same time on a split screen. HMD defines the feature as more of Bothie and less of Selfie.

HMD had selected to introduce cheaper models first because 50% of international demand was for devices costing a price range of between 100 euros and 250 euros. They intended to start there, where they know that they are extremely relevant with their proposition. The firm is extremely eager to venture into the flagship division as well.

The new smartphone boasts Zeiss cameras, after HMD reported in July that it had finalized a deal with the group. This release comes as Apple prepares to introduce a new iPhone and Samsung launches its new model – Galaxy Note 8. HMD is less concerned about competition as the company is here to design for the end users. Demand for the refurbished 3310 feature device, which was launched earlier this year, had been very strong.

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