Nokia's Hang-Up: Smart Phones

Nokia launched an effort five years ago to create cellphones that allow consumers to get on the Internet, watch movies and play videogames. Now it appears that the cellphone giant focused on the wrong battle -- at a big cost, reports the WSJ.

"Smart phones have proved too bulky and expensive for many consumers, and remain a tiny presence in the market. Moreover, in concentrating on smart phones, Nokia has neglected one of the hottest growth sectors in cellphones, midrange models with sharp color screens and cameras, giving competitors a rare opportunity to steal market share.

Last year, Nokia sold 5.5 million smart phones, according to estimates from International Data Corp., far short of Nokia's target of 10 million".

emily | 9:21 AM | News, Buzz |
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