Boston, MA 06/02/2014 (wallstreetpr) – Nokia Corporation (ADR) (NYSE:NOK) has introduced a full time security unit, in a bid to improve its services and security devices. The new division will function under the Mobile Broadband group, which is a significant division of the company’s Nokia Solutions and Networks (NSN) sector.
Inclusive array of security solutions:
The security segment will deliver a comprehensive array of security solutions via superior technology and enhanced and professional workforce. Nokia Corporation (ADR) (NYSE:NOK) has been reported also to uphold its Security Solution Service by correspondence of the significance of security with various Telecom businesses.
Three forth of users suppose that the security is under the operator’s responsibility, according to the company’s 2014 Customer Acquisition and Retention Study Report. This survey also disclosed that the huge count of customers is desirous of switching operators in situations of security concerns. Also, they are ready to switch operators even if they are required to pay more.
Impact on recent quarterly report:
Nokia Corporation (ADR) (NYSE:NOK) generated revenue of $3688 million in the recently reported first quarter result of 2014. It reflected a steady year over year decline of 15%. In addition, the NSN division also experienced a 17% year over year fall in revenues. In fact, NSN segment contributes as much as 87% of the company’s total revenue.
Nokia invests in technologies:
Nokia invests in technologies that are significant in a platform where numerous devices are connected. Nokia Corporation (ADR) (NYSE:NOK) specializes in three companies such as, hardware, network infrastructure software and services that the company delivers via system; advanced technology development as well as licensing that it practices via Technologies; and local intelligence that Nokia delivers to HERE. Each of its companies leads in their respective areas.
NSN entered into a 5 years contract:
Recently, Nokia Corporation (ADR) (NYSE:NOK) entered into a 5 year contract with a multinational Telecommunications company named Telenor. The collaboration was intended to deliver Telenor with accomplished services along with radio access equipments. However, the financial details of the contract have not been unveiled.
