Nokia to invest $250mln in mobile ecosystem developmentJanuary 29, 2013 - 14:23 AMT PanARMENIAN.Net - Nokia has green-lit another $250mln in investment into mobile ecosystem development, with the company’s Nokia Growth Partners venture firm targeting China as an area of huge potential growth, SlashGear reports. The new fund, Nokia Growth Partners’ (NGP) third, will also consider potential candidates from the US, Europe, and elsewhere in Asia, but China is described specifically as “an important market for Nokia.” That given, NGP has taken on two new China market specialists. Formerly of AMD, where he was corporate senior vice president and president of AMD China, David Tang will be joined by Lu Guo, formerly of Keytone Ventures where he was vice president for mobile and internet investments; Tang was also previously vice chairman of Nokia China. Both will be based in Beijing. The Chinese market is an area of high interest for most of the big names in technology at present, with Apple repeatedly citing the country as its prediction for the biggest growth over the next few years. For Nokia, which has always counted developing markets as a key factor in its baseline “dumbphone” success, China represents a renewed challenge; Symbian on cheap Nokia handsets had been a mainstay of the market, but the rise of Android and devices from Huawei, ZTE, and others, has meant Nokia’s legacy business lost traction sooner than the Finnish firm anticipated. NGP will work on hunting down potential new mobile success stories, hoping to repeat its previous successes with firms like Swype and Summit Microelectronics. The fund currently has five Chinese firms in its portfolio, spanning advertising, digital entertainment, browser technologies, and enterprise apps, SlashGear says. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | About 32,000 rally in Yerevan to deman Pashinyan’s resignation About 31,700 people attended an opposition rally on Thursday, May 9 in Yerevan demanding the resignation of Prime Minister Nikol Pashinyan. Armenian, Azerbaijani Foreign Minister to meet in Almaty Armenian Foreign Minister Ararat Mirzoyan and his Azerbaijani counterpart Jeyhun Bayramov will meet in Almaty. Viva-MTS: Tech solutions to modernize infrastructure of border village The border village has been the focus of Viva-MTS and the Foundation for the Preservation of Wildlife and Cultural Values since 2015. “By Your Side”: IDBank's new support program for displaced Artsakh citizens IDBank is launching a long-term social support program for forcibly displaced Artsakh residents. |