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
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