Nokia Corporation (ADR) (NYSE:NOK) Increasing Competition in Smartphone Segment, Going Beyond the Cell Phone Market

The Finland based cell phones manufacturer Nokia Corporation (ADR) (NYSE:NOK) plans to hold grip beyond the cell phone market. Most recently company announced launch of a new app, called HERE. The new offer is basically a cloud linked location mapping app that offers differentiated location experience for its users.

According to the company statements the app can be used across operating systems and screens. A few years back company also launched Ovi to capture the mapping services share. The location based services are now booming and according to some recent estimates the advertiser and consumer expenditure on this service is expected to reach $6 billion by 2017.

Nokia Corporation (NYSE:NOK) also disclosed that the consumer usage of map apps has surged more than 75 % in the past two years, in the whole world.

The app is equipped with stunning new features specially designed by Nokia developers to expand its app market. Its users will have live traffic view of specific locations in addition to driving directions. The app comes with traffic congestion alerts and different kinds of view options including public transport line, satellite and offline views etc.

With this app launch Nokia Corporation (NYSE:NOK) seems to be more engaged with services sector. Moreover, company plans to cash the growing crowd sourcing in some countries. With the help of SMS and MMS pictures and information of locations and places can be share by users. In addition, community maps would also be updated and produced by users.

Not only the apps but cell phones are also at top priority for Nokia. Most recently company successfully launched its Nokia Lumia 620 handset to curb the growing competition from Windows Phone 8.

Just ahead of the launch of Windows Phone 8, Nokia plans to unveil its Lumia 620 in January 2013 in major international markets including China. HTC is at the back of Windows Phone 8 in addition to some other Chinese vendors.

According to some press reports the Nokia handset will also be sold in Europe and Middle East after the launch in Asia. To counter strike, some analysts are of the view that, HTC may also launch new Windows Phone 8 models at low prices.