Nokia's (NOK) Popularity Growing in the Wrong Asian Markets
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Nokia Corp. (NYSE NOK) shares are lower Monday morning despite reports the company is still wildly popular in several key emerging markets.
According to data from a Nikkei BP Consulting survey, Brand Asia, Nokia ousted blue chips like Coca-Cola (NYSE: KO), BMW, and Disney (NYSE: DIS) as the number one brand in Thailand. In addition, Nokia topped lists in Indonesia, India, and Vietnam.
Amid the positive sentiment which Brand Asia received from surveying "thousands of customers" in the region, Nokia has seen its top line decline, dropping from €7 billion to €4.2 billion in the first quarter of 2012. Smartphone sales last quarter fell from 24.2 million in the prior year to 11.2 million.
Brand Asia said Apple (Nasdaq: AAPL) took the top award in China, Taiwan, and Japan. As proof, Nokia's shipments to China alone fell from 23.9 million units to 9.2 million last quarter.
Samsung got third-place in its home of South Korea, ceding the second spot to Apple.
Whether or not Nokia is making strong gains in consumer sentiment in markets which may be lucrative in the future is a topic of debate. China is the most-desired emerging market right now, but India also has waves of new mobile subscribers signing up annually, many starting off with lower-priced feature phones and smartphones -- two of Nokia's key areas.
Nokia shares are about 2 percent lower Monday.
According to data from a Nikkei BP Consulting survey, Brand Asia, Nokia ousted blue chips like Coca-Cola (NYSE: KO), BMW, and Disney (NYSE: DIS) as the number one brand in Thailand. In addition, Nokia topped lists in Indonesia, India, and Vietnam.
Amid the positive sentiment which Brand Asia received from surveying "thousands of customers" in the region, Nokia has seen its top line decline, dropping from €7 billion to €4.2 billion in the first quarter of 2012. Smartphone sales last quarter fell from 24.2 million in the prior year to 11.2 million.
Brand Asia said Apple (Nasdaq: AAPL) took the top award in China, Taiwan, and Japan. As proof, Nokia's shipments to China alone fell from 23.9 million units to 9.2 million last quarter.
Samsung got third-place in its home of South Korea, ceding the second spot to Apple.
Whether or not Nokia is making strong gains in consumer sentiment in markets which may be lucrative in the future is a topic of debate. China is the most-desired emerging market right now, but India also has waves of new mobile subscribers signing up annually, many starting off with lower-priced feature phones and smartphones -- two of Nokia's key areas.
Nokia shares are about 2 percent lower Monday.
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