Nokia Oyj (NOK1V) unveiled a tablet running Google Inc.’s Android software, marking a return by the former smartphone-market leader into mobile devices just months after it sold its handset business to Microsoft Corp.
The N1 tablet uses Nokia’s software on top of the Google operating system, Sebastian Nystrom, head of products at Nokia, said at the Slush technology conference in Helsinki today. The device is made and sold by Foxconn Technology Group and costs $249 plus tax. Sales will start in China in the first quarter and Nokia expects the N1 to be available in other markets.
The tablet is the latest twist in 149-year-old Nokia’s history that includes transformations from one industry to another. Chief Executive Officer Rajeev Suri, who took over in May after Nokia sold the money-losing mobile-phone unit to Microsoft for about $7.5 billion, is expanding beyond wireless-network equipment, which now accounts for about 90 percent of the Espoo, Finland-based company’s sales.
“We wanted to start with something small that caters to our fans,” Nystrom said in an interview. “There is room for better products out there.”
Nokia shares rose 1.5 percent to 6.31 euros at 2:12 p.m. in Helsinki. The stock has gained 7.7 percent this year, giving Nokia a market value of 23.6 billion euros ($30 billion).
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