It would not surprise many people to hear that there are not a ton of cellphone in Africa, especially when Egypt and South Africa are taking out of the mix.
Nokia (NOK) wants to fix that. The company believes that as handset sales slow in Europe and the US, Africa will be the next big thing. According to Bloomberg "Nokia’s bet that Africans will consider buying mobile-phone service to be as vital as paying 11 year-high corn prices stands a good chance of succeeding."
It is a cynic’s position and one that has a cruel underpinning as well.
The plan by Nokia may cost it at the bottom line. A push into Africa based on discretionary income will almost certainly be a bad move. People will eat before they talk.
Douglas A.McIntyre
It’s Your Money, Your Future—Own It (sponsor)
Are you ahead, or behind on retirement? For families with more than $500,000 saved for retirement, finding a financial advisor who puts your interest first can be the difference, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors who serve your area in minutes. Each advisor has been carefully vetted and must act in your best interests. Start your search now.
If you’ve saved and built a substantial nest egg for you and your family, don’t delay; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.