Nokia made the cut on my latest stock purchase! We are now the proud owners of just under $3k in Nokia stocks.
You might ask, why Nokia?
There are a couple of reasons for our purchase, aside from our general process of checking out the value of a stock:
1) Nokia commands nearly 40% of the global mobile phone market. Given the developing world, this will see great expansion in the years to come. This also means that we diversify a bit in terms of technology usage.
2) They have a new technology call Ovi that looks like it has some great potential. For instance, Nokia was able to open this up on 700 platforms simultaneously, rather than iPhone and Blackberry having basically one version. They are also getting further into the mobile entertainment industry and doing a good job of positioning themselves in that regard.
3) The price seems like it is a good value. In comparison to other stocks I was looking at, including GE and Apple, Nokia seems like it has a great deal more potential for growth in the stock price.
4) Having lived in Finland, I believe strongly in the Finnish persuasion for frugality and believe that the business is run well. Being frugal can build a company’s wealth just as much as it can build an individual’s wealth. You’ve got to love Ter
o Ojanperä; seen right.
5) When we set out 2009 stock pick parameters, one of those was to purchase stocks in technology that would still be in demand despite the economy.
Here are a couple of other resources for anyone who might be interested in Nokia: Factsheet and an article from Fast Company with some good information.
We’ll keep you posted on how things go, but it looks like it could be a great opportunity to build our wealth.
Cheers,
Miel
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