Nokia is taking a stand on the replacement of smartphones by the metaverse. The company is making preparations and testing technologies that will enhance the transition.
Nishant Batra, Chief Strategy and Technology Officer at Nokia, said that the company sees this change happening in the decade’s second half.
Nokia was one of the first companies to develop a cellular phone in the late 80s. However, the Finnish company has diversified into other aspects of tech after years of innovation and helping to create products used at airports as well as for electrification. Having sales of over $21 billion in 2021, the company seems ready to pioneer the development of metaverse-related products.
The reality of the metaverse will come faster
Although the concept of the metaverse is not new, the rebranding of Facebook to Meta brought a lot of attention to the virtual 3D world known as the metaverse. A professor at Southern Methodist University, Sukumaran Nair, explained that the metaverse is like bringing all current technologies into “one bucket”. It’s an extension of “AR and VR with potential for real-time data collection from different parts of the internet,” he added.
According to the team at Nokia, “socioeconomics and geopolitics, technology and what users need at any given time” are the three significant factors that will determine how the virtual world will develop. Batra also explained that adoption from “corporations and consumers will be critical” in the development of the metaverse with the integration of VR and AR devices.
Aside from Nokia, Match Group of Dallas, Walmart, Sony, and other big firms have shown interest in the metaverse. Reports show the numbers for what consumers want to use the metaverse for: 68% to experience music, 58% travel and tourism, 53% for shopping and virtual stories, and 53% for live events.
With all the challenges to drive the development and adoption of the metaverse, Batra believes that it is possible and will happen faster as
“the adoption of every generation is faster than the generation before”.
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