Nokia’s CEO Olli-Pekka Kallasvuo has stated that his company’s recent flurry of acquisitions in the Internet services and multimedia space is not a sign of change in its overall acquisition policy. In October Nokia launched a US$8.1 billion bid for digital map supplier Navteq, its largest ever acquisition. Nokia has also recently bought numerous smaller firms such as U.S. digital music distributor Loudeye and mobile advertising firm Enpocket. Lat July it bought social networking and photo-sharing site Twango. Analysts believe such moves reflect the company’s strategy to transfer itself from a hardware company to also being an online services company.

“I don’t think that it [acquisition policy] has changed,” Reuters reports Kallasvuo as stating. “We have bought companies before. It requires fast moves and acquiring content that one could not, did not want, to produce oneself. I don’t think this differs greatly from other companies’ policies.” Kallsavuo also gave advice to growing businesses: “A good idea is never enough, one must have strategy, efficiency and a business model very clear in one’s mind.”