Nokia's chief executive Olli-Pekka Kallasvuo commented that the company has made no changes to its acquisition policy. Kallasvuo said, "We have bought companies before. It requires fast moves and acquiring content that one could not, did not want, to produce itself. I don't think this differs greatly from other companies' policies."
Nokia, the world's top mobile phone manufacturer has recently positioned itself as transforming into a online services company from a hardware company alone. Nokia sells more phones than its three closest competitors combined. Nokia's recent acquisition strategies have supported a content strategy - a move into mobile Internet services. Nokia is also restructuring to concentrate on the potentially lucrative software and services business.
In July last year, Nokia acquired social networking and photo-sharing site Twango. In October 2007, Nokia launched its largest ever acquisition for U.S. digital map supplier Navteq. Nokia made an $8.1 billion offer.
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January 8, 2008
Nokia's Acquisition Strategy and Restructuring
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