Nokia buys mobile advertising firm Enpocket

In a move to cash in on the emerging mobile advertising market, Nokia announced the purchase of the U.S. mobile advertising firm Enpocket. This move pits Nokia in direct competition with the likes of Google and Yahoo, two powerful companies that are also tapping into the mobile advertising market.

A quote from the article at Red Herring:

Enpocket displays advertisements on cell phones in various formats, including banner ads, video clips, and text messages. It works very closely with carriers such as Sprint Nextel and Vodafone, combining operators' customer data with real time information, such as a subscriber's location and key words searched, to place ads that generate higher response rates.

The mobile advertising space is expected to develop into a multi-billion dollar industry with potentially every mobile device a target for advertising. Earlier this year, Microsoft's purchase of mobile ad provider ScreenTonic (Eweek) and AOL's acquisition of mobile ad specialist Third Screen Media are indications of technology companies preparing to make the most of mobile advertising.

Nokia recently branded its Internet services as "Ovi" and, coupled with the latest acquisitions, it seems up to the task in challenging the set players like Google and Yahoo.

More new links:

Nokia buys mobile Ad company Enpocket (Associated Press)

Nokia to buy mobile Ad firm Enpocket (AHN)

Nokia buys mobile advertiser Enpocket (ItWeek)