CoinShots Logo
Nokia Believes The Metaverse Will Replace Smartphones In Tthe Future
Nokia, one of the first companies to manufacture a consumer-grade mobile phone system, now believes the metaverse will cause phones to become deprecated.
11:11 24th Oct, 2022

Nokia, one of the first manufacturers to create a mobile phone system, is predicting the fall of the mobile phone trend known today at the hands of the metaverse. While phones will still be around, metaverse experiences will be the primary form of communication in the second half of the decade.

While augmented reality devices have still ways to go, Nokia believes that there will be a rise in the interest of the audience in such devices, that will power this metaverse push. Nokia’s chief strategy and technology officer Nishant Batra is confident about this. He stated:

"Our belief is that this device will be overtaken by a metaverse experience in the second half of the decade."

But there are several factors that must be aligned for this metaverse-based future to come to fruition, per Batra’s statements.

In the consumer area, Nokia believes that the rise of this digital-based world will depend on several important factors, including the push that companies like Meta are doing to make the metaverse a trend. Also, as the executive has stated before, consumers are more worried about price and forms than institutions. He explained:

"Widespread adoption of the technology from both corporations and consumers will be critical for it to really take off, and this will also depend on the availability of affordable, ergonomic wirelessly connected VR and AR devices."

In this sense, prices for popular metaverse headsets have increased lately, as Meta increased the cost of its base Headset to $400 in July. Earlier this month, the company also introduced a premium option, the Quest Pro VR, that has a price of $1,500.

However, monetization of the metaverse will be a difficult thing to attain, as the company believes there will be fragmentation, with monetization depending on the growth of different use cases for metaverse experiences and devices. Industrial adoption will be easier to attain, as some use cases are already being explored.

Nokia predicts that all this connectivity will create security holes, and the company is also working to secure users in the metaverse.


CoinShots Logo



Get in touch:

© 2024 Coinshots (AtlasZero LLC). All rights reserved.