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Nokia more confident on Navteq

Nokia bought the world’s largest digital map maker Navteq in  year 2008 and analysts expected the firm to write off goodwill from the deal, after TomTom wrote down the value of its acquisition of rival Tele Atlas.

It has improved to 15-20 percent above the value it is carried in Nokia’s books from less than 1 percent higher two years ago, according to Nokia’s annual 20-F form filed with the U.S. securities and Exchange Commission.

Nokia-more-confident-on-Navteq
Nokia-more-confident-on-Navteq

In the 20-F report Nokia said in March more than 300,000 consumers were singing up each day for its Ovi services, while there were more than 4 million downloads each day from its Ovi application store.this is up from 1.5 million 12 months earlier, but still well behind Apple’s more than 30 million.

Apple and Google Nokia decided last month to swap its own smartphone platform Symbian for Microsoft’s Windows Phone. The two have yet to agree on all terms of the deal.and deal was signed by Nokia’s new Chief Executive Stephen Elop, who Nokia hired from Microsoft last September.Now Nokia will pay Elop more than $6 million in one-time payments for moving to the Finnish company, the filing showed.

According to the 20-F.Nokia paid Elop last October 2.3 million euros ($3.18 million)compensation for lost income, and will pay a further $3.0 million in October 2011.

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Matthew

Matthew is a technology blogger for vritesh.com

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