mDR

mDR: announces that its subsidiary, A-Mobile has been appointed as Nokia’s sole Authorised Distributor in Spore wef 10 Sep 2012. A-Mobile has been one of Nokia’s long established distributors in Spore since 2004. A-Mobile will now partner more closely with Nokia to strengthen its existing distribution channels and to provide retail planning, channel servicing and execution support to the mkt. The news is a slight positive, and a testament of mDR’s reach in Spore. Nevertheless, any upside could be limited, as Nokia’s brand power has been declining. In 2011, Nokia’s global market share plunged to 8% from 38% two years ago. More recently, Nokia’s World event held on Sep 5-6 and its launch of the new Lumia 920 and Lumia 820 smartphones were met with lukewarm reception. mDR trades at 8.9x P/E.