Nokia's HERE Maps to Be Available on Samsung Devices
Nokia Corporation (NOK) is set to collaborate with the world’s leading smartphone developer, Samsung Corp., over its HERE map applications. Per the deal, the beta version of HERE mapping solutions will feature in 3G Gear S smartwatches, expected to hit the market in October this year.
The HERE maps will also be available on Samsung’s Tizen-based smart devices and the Galaxy smartphone line-up. Such a strategic move will help Samsung carve an identity of its own in the smartphone market and deviate from the traditional Android line along with offering its users access to both Google Inc. (GOOGL) and HERE maps.
HERE maps provide specific mapping information like the number and direction of lanes on a road, traffic signs, and the coordinates of traffic lights. It also offers mapping information of nearly 190 countries. Moreover, users can access the maps even when offline.
HERE maps have gained significant popularity and are widely used by large online companies like Yahoo! Inc. (YHOO) and Amazon.com Inc. (AMZN). Again, it offers mapping solutions for Microsoft's (MSFT) Bing search engine. Interestingly, the maps will also feature in the digital smart mapping technology for modern cars.
In the recently concluded second quarter of 2014, Nokia’s HERE segment generated total revenue of $320 million, flat year over year. However, we view the HERE map collaboration positively and expect it to prove accretive to revenues.
Nokia currently carries a Zacks Rank #3 (Hold).
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