Nokia doesn’t want to miss the next wave of mobile technologies so it is doubling down on its venture investment activities. The cell phone giant is putting another $150 million to work in Nokia Growth Partners, a fund in which it is the only limited partner. This brings the total capital in the fund to $250 million (Nokia initiated the fund with $100 million in 2004). That is in addition to a $100 million fund of funds also run by Nokia Growth Partners on behalf of Nokia, which is used to sprinkle cash around to other VC firms.
So far the fund has done best investing in mobile chip companies, some of which have been acquired by ATI (BitBoys for $44 million), Broadcom (Global Locate for $143 million), and Dolby (Coding Technologies for $250 million). But it is also an investor in mobile video service Kyte. Generally, it is a alter-stage growth fund that looks for companies with a product ready to ramp up.
The new cash comes at a time when the mobile Web is generating excitement again in Silicon Valley. Most of that excitement right now surrounds the iPhone. Throwing around a little cash to encourage startups to develop cutting-edge apps for Nokia phones is not a bad strategy. The fund will also invest more heavily in China and India, where mobile growth far outstrips the U.S.
I love it! Wireless apps is where its at. Soon you’ll see the carriers get involved and start to acquire the best apps ASAP.
According to this article, we are still looking for a ‘great wireless internet phone’ that should have some features still lacking in today’s phones (including the iPhone!)
Here’s the typical Bay Area reply: “I don’t care, because it’s not the iPhone, even if Nokia currently owns 40% of the worldwide market share for mobile phones. I’m going to make a great app, give it away for free and hope my financial model is built upon acquisition instead of a sustainable business. I’m right because only the Bay Area matters and the iPhone (like Goatse) will eventually take over the world!!!”
Good point, Westside.
Money game and market share. Then share price is up with foreign investment, then the share price is down to suck in foreigner’s money, just as greenback is down to suck in foreigner’s money. The world is ATM for United States of America.
Nice work Wong. Way to use the ‘reply’ feature. Are you self-important or too ADHD to understand how it works. If your going to address another commenter. might as well use it, unless you are just stupid. Learning disabled perhaps?
The cell phone mania in India definitely super seeds the US demand. Personally seen that there are so many retailer outlets for Airtel, Hutch, etc. to keep up with the demand… it’s like seeing AT&T or Sprint stores every other block in the US.
http://blabtech.blogspot.com
Nice. Good for everybody…
it is so great for nokia investing more for mobile insdustry. so the three mobile giant like iphone, nokia, and google can develop better phone platform, it will drive the new phone industry.
iPhone is not a mobile giant, it’s a small turd.
But a growing turd and one that Nokia doesn’t like the smell of.
Nokia is making some good moves recently in ensuring they are at the edge of technology.
such a good idea, it will take a lot to keep up with Apple though…
I think this shows why Nokia will remain #1! These guys are 4 steps ahead of competition… In fact, Apple is a joke, they will get a tiny percentage of the global market and their iphone will become irrelevant. The iphone is only big in the US cause of the combined Apple+ATT marketing machine who are maintaining the hype. I saw a $100-iphone clone made out of China and it was hot! Apple should worry about Blackberry.
Nokia is not concerned with the iphone and the US market, they are concerned with the WORLD and staying #1 while competing with Chinese manufacturers and how to create recurring revenues after the phone has been sold…and noone else is thinking about that!
and by the way, they still have the best phones…
I believe the key focus of this fund should be in assisting with the tremendous growth of the Asia Pacific mobile economy, specifically China and India of course – but also for investing in advanced Japan mobile sectors. Technology focus will be on creating new applications for those diverse yet exploding segments.
thanks….
http://www.beymod.com.tr