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Can Nokia Take On Google and Apple Maps?

Tuesday, 13 Nov 2012 | 3:58 PM ET

The new Nokia 920 smartphone is seen in this undated handout photo made available to the media on Wednesday, Sept. 5, 2012. Nokia Oyj unveiled two smartphones using Microsoft Corp.'s new Windows Phone software, betting on the devices to win back sales lost to the iPhone and Android handset makers.

Nokia is aiming to be a bigger player in mobile mapping services with a new cloud-based service, the company's CEO, Stephen Elop, told CNBC's "Street Signs."

On Tuesday, the Finnish mobile phone maker announced a new location service called "Here" that will be available not only on Nokia phones like the Lumia 920, which is powered by Microsoft's Windows Phone software, but also on the Apple iPhone and devices running Google's Android.

(Read More: Apple Running Out of New Markets for iPhone, iPad: Pro.)

"There are two different elements to revenue generation from our focus on mapping and location services," Elop said. "Every time someone buys a (Nokia) device we're helping to pay for the investment we're making in location-based services."

Nokia Betting on Windows
Nokia is betting big on Windows for their new phones, reports CNBC's Jon Fortt. Stephen Elop, Nokia president & CEO, weighs in.

And because these types of platforms benefit from scale, Elop said it's important to get the service in front of as many people as possible.

(Read More: The World's Most Promising New Companies.)

Elop said that licensing is "already paying and then some" for Nokia's R&D in maps, making the business profitable on that basis.

Nokia is also pleased with the early Lumia sales. But while the early days are positive, Elop told CNBC "we still have a lot of work ahead of us."

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  • Matt Hunter is the senior technology editor at CNBC.com.

  • Cadie Thompson is a tech reporter for the Enterprise Team for CNBC.com.

  • Working from Los Angeles, Boorstin is CNBC's media and entertainment reporter and editor of CNBC.com's Media Money section.

  • Jon Fortt is an on-air editor. He covers the companies, start-ups, and trends that are driving innovation in the industry.

  • Lipton is CNBC's technology correspondent, working from CNBC's Silicon Valley bureau.

  • Mark is CNBC's Silicon Valley/San Francisco Bureau Chief covering technology and digital media.