Nokia is fast becoming ailing old man of telecom world and its imminent WP7 launch seems to the only way to salvage the company. And
the Finnish company is making sure that it leaves no stone unturned. Reportedly, the company is looking to spend $120 million on advertising extravaganza before the launch of the new phone series. The phones are expected to be launched in October this year.
The amount of money spent on advertising campaign is staggering, especially considering that Nokia has been forced to restore to lay-offs for cutting costs. The company also revised its forecast downward. In this situation, $120 million outlay on advertising somewhat smacks of desperation. However, there is no doubt that Nokia simply cannot afford this endeavor to fail. But it is not only WP7 phones, the company is launching an advertising blitz for its QWERTY phones as well.
Nokia is also working towards overhauling its entire business. It has already ditched Symbian and would be focusing on WP7. Though, it would still keep providing support for Symbian users. The company is also phasing out its "Ovi' brand and is planning to bring all its products and services under Nokia brand. It is also working towards reviving its fortunes in North America and Europe, where it has witnessed massive decline in its products' demand. At the very same time, the company is in leading position in emerging markets in Africa and Asia but now is facing stiff competition from companies like Samsung and HTC.