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The companies have agreed terms, but the deal has yet to be approved by regulators and shareholders.
Nokia is expanding its offering to include areas such as entertainment, communities and location based services.
Weird. I had no idea they sought to become a Yahoo/Google/AOL/NYT/IAC/MS/etc. What's wrong? Is everyone getting bored with making the toys? Or, they can't compete with the flash of Apple?
A software company worth 4% of that? Simply amazing.. so I took a look:
The net sales of Chevron have been 17 billion in 2006 ...
Navteq was at 581 Million: 3.4% of Chevron
Not too bad for company that has not too much to touch! Price was a bit too high, but who looks too close at these values ;)
They've been saying this for the past few months now, but it's only been in the past few weeks that their web services have actually been unveiled. Before that they just said "we want to be an internet company" but it was all very vague. Now we have some details.
There was a big press conference at the end of August where they launched an "umbrella brand" called Ovi, which includes a new music download store (which lets you buy tracks straight to your phone), they're relaunching their N-Gage gaming brand as a general platform on their smartphone range (again, you can buy games straight to your phone), and Nokia Maps and Navteq provide maps and other GPS data (also straight to your phone).
It's worth noting though that Ovi services will be available on PCs as well, so you don't actually have to buy Nokia hardware or even a phone in order to use Nokia web services. They also said that the Ovi service will be open to services from third party providers, not just Nokia-owned stuff.
Personally I have serious doubts about the music store as even the mighty iTunes doesn't really make a significant profit, but maybe Nokia is thinking about the same strategy as Apple, that a music store helps promote hardware sales, and that's where the real money comes from.
The market cap of Chevron Texaco is .... they are up to the challenge to solve our energy problems
irrelevant. Big oil doesn't solve our energy problems, they cause it. Who's "our" anyway?
Tomorrow, someone reinvents getting cheap energy from "sticking a device into the ground" as Tesla suggested, or someone invents ultra high capacitors instead of batteries and isn't getting run down by automakers into the ground - and presto, BIG OIL is in trouble.
yet everyone has cellphones, and I don't see people quit playing with them any time soon. Unless it's proven that they cause cancer...
It's logical. You have subscribers with phones which are in essence GPS devices. It's almost too obvious to come up with the idea of integrating it into some sort of mapping technology.
I'm surprised Google or Microsoft didn't snap up Navteq. They power a LOT of devices.
Me too! The handheld phone/gps generation is upon us. That market is ripe for the picking and Nokia is going to be the leader. Their new N85 is a testament to that. Spend $8 billion now and make $50 billion over the next 18-24 months.
This time next year, the mobile phone/gps combination will be the standard and Nokia will have established themselves as a solid leader in the field.
Now, you have to think, Navteq powers Google Maps. There have been rumors that a "Google Device" of some sort may be on the horizon. How will Google respond to this purchase and will the two now become competitors?
GPS is BIG, REALLY BIG!