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Nokia focuses its retail strategy to boost the consumer experience

Tags: Nokia (NYSE:NOK)

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Press release

Nokia is crystallizing its branded retail strategy, with an aim to improve the operational efficiency of its retail network and further optimize its retail approach according to various market and channel developments in the past few years, as well as ensuring that we have a workable model that is appropriately in-line with the strategy of each individual market. This has resulted in some re-organization of our retail network and, as a consequence, Nokia intends to close four of its retail stores (London Regent Street, Sao Paulo, Chicago, and New York). 

In Sao Paolo, Nokia is looking for a new location for a retail store. 

In North America, over 90 percent of consumer purchases are made through carriers - Nokia continues to support our relationship with carriers in this market, as well as the continued expansion of our retail partner network with the likes of Amazon and Best Buy (for example), in line with our strategy. As we continue to expand our services and solutions offerings across these various channels, we have decided to close the NY and Chicago stores to allow more concentration on our other channels. 

Nokia is increasingly investing in its retail network. Nokia Flagship Stores are only one aspect of Nokia's retail experience and marketplace strategy, which includes more than 1,000 Nokia branded retail stores and their more than 650,000 retail outlets globally. All of these remain essential to Nokia's ongoing success and continue to be the main sales channels in the future. A key objective of Nokia's renewed retail strategy is to provide opportunities for consumers to experience exciting Nokia solutions through our many partners.