updated 06:30 pm EDT, Tue April 26, 2011
Nokia, Navteq to form Mobile Phones Business arm
An internal memo received by PhoneScoop indicates Nokia and Navteq will significantly change their mapping and social networking services. This will include new social-location apps, service and developer experiences. Also, high-value location content that brings "differentiated" experiences are also part of the changeover.
What's more, a high-value advertising network will monetize this new ecosystem, the note says. It will provide local commerce services for brands and merchants.
Starting on May 1, Nokia's Executive VP Tero Ojanpera and Navteq CEO Larry Kaplan will begin work on a new business unit that will bring all of Nokia's location assets and social-location services into one.
Many divisions from both companies will be transferred to a newly created Mobile Phones Business Unit. Only Nokia phones running on Windows Phone will be targeted, but Navteq data will be made available to business partners.
Finally, the company says these changes will bring about the "next generation of location and commerce capabilities for the entire industry."
It's not known when these plans will be made public.