Nokia expects to sell 35 million Global Positioning System (GPS) equipped phones this year, its chief executive said on Thursday.
“We expect to ship about 35 million GPS-enabled Nokia devices in 2008, which is equal to the entire GPS device market in 2007,” CEO Olli-Pekka Kallasvuo told the annual shareholders’ meeting.
Nokia’s $8.1 billion acquisition of U.S.-based navigation firm Navteq (NVT.N: Quote, Profile, Research), which is still pending regulatory approval in the European Union, is a good deal, Kallasvuo said.
“When we look at it with the eyes we have now, when regarding pedestrian navigation, map services, digital maps, we are even more excited about the opportunities than when making the decision,” Kallasvuo said.
Most phones sold this year go to customers who already have a phone, and Nokia CEO said: “Globally, we expect replacement sales to represent more than 70 percent of the industry’s volume in 2008.” Continue reading “Nokia to sell 35 million GPS Phones”
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