NEW YORK ( TheStreet) -- Nokia (NOK) is doing all it can to stem losses in the fast-growing smartphone market. It is focusing on its Qt development environment as one leg of its strategy, and re-architecting its mobile operating-system strategy as well.
Nokia has been feeling the heat. Its smartphone market share is dropping dramatically due to pressure primarily from iPhone and Android devices. Even in Europe and emerging markets, where Nokia has an established brand and compelling presence, it is not immune. And its reliance on Symbian, an old-line mobile OS that didn't kept up with the competition, hasn't helped.
Newer versions of Symbian are just now coming to market but still are not really competitive and won't be until the next version is released. And Nokia's newer high-end devices based on MeeGo are not yet to market. Nokia needs to take some drastic measures.One immediate step is for Nokia to capture more developers so the base of apps in its Ovi Store can grow to compete with Apple's and Google's stores and make its devices more appealing. To do this, Nokia must ease the development chore for ISVs who have often complained that developing on Symbian was too hard. Attempting to ease this burden, Nokia now says all development will move to Qt (Nokia's rapid-application development tools), including its own internal development efforts for future OS releases. This not only affects independent software vendors (ISVs) targeting the Symbian platform. It means anyone developing on Qt can transparently deploy to Symbian or MeeGo (or other supported platforms). This should ease the process of integrating newer MeeGo platforms into its release cycle, as theoretically at least, any apps developed with Qt for Symbian can easily be ported to MeeGo. This is a good strategy, given Nokia's need to be more competitive, and a requirement it not take too long to ramp up MeeGo. But can it get developers to move to Qt from their current preferred methodologies? That remains to be seen. But Nokia must aggressively court them if it wants to stand a chance. The way to do that is to make Qt support development for Android and WP7 as well as Symbian and MeeGo, thus centralizing development to one tool that can deploy to many platforms. Nokia must do this quickly if it wants to have a major impact.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV