Elop: "As a company we think of ourselves as having five distinct businesses. Smartphones are very topical, but there are four other businesses at Nokia.
Mobile phones [like the Asha line] are really important because we have 30 percent market share. It?s profitable; it generates cash and helps us to invest in other areas.
Second business is location-based services, where companies like Oracle and Amazon pay us money to take advantage of our location based services. Nine out of ten cars, if they location based services, are somehow paying Nokia.
The third is Nokia Siemens network, this is our joint partnership with Siemens. The telecommunications equipment business is a tough market, and it?s been very problematic over the years. But it went profitable for the first time last quarter and has generated cash for the last three quarters. And we?ve provided guidance that says it gets better from here, so that?s good.
And the fourth is patents and intellectual property. And more so today even than a year ago or two years ago the importance of having one of the strongest patent portfolios in the market is very, very, very clear. And that?s something that we monetize in various ways. We use it to protect our inventions. We use them on an offensive basis if people are using our innovations without paying for them.
When you look at Nokia overall, there?s five businesses, four of which are improving or generating cash or doing the right thing, while one of them [smartphones] is an area of very deliberate, very specific investments to show off our best work and break into markets like the U.S., where we?ve been less than present for some time."