“Nokia Oyj (NOK1V) fell as much as 5.6 percent in Helsinki trading after introducing a smartphone that disappointed investors anticipating a handset attractive enough to push forward the company’s comeback effort,” Adam Ewing and Amy Thomson report for Bloomberg News.
“The Lumia 925 has a metal frame, lets users take sharper photos and video, including in low light, and costs 469 euros ($609) before taxes and carrier subsidies, Jo Harlow, Nokia’s smartphone chief, said today at a press conference in London. Rather than a completely new device, the phone is a modified version of earlier models, said Mikko Ervasti, an analyst at Evli Bank Oyj in Helsinki,” Ewing and Thomson report. “‘There is nothing groundbreakingly new or different in the hardware or software design, and there is limited differentiation to Lumia 920 or Lumia 928,’ Ervasti said in a note. He said Harlow’s presentation was ‘not very confident.'”
Ewing and Thomson report, “The phone also advances partner Microsoft Corp.’s push into mobile software as the two companies seek to break the dominance of Apple’s iPhone and devices that run Google Inc.’s Android software, led by Samsung Electronics Co. models. Nokia fell as low as 2.78 euros for the biggest intraday drop in almost four weeks and declined 3.9 percent to 2.83 euros at 1 p.m. in Helsinki. The stock was little changed this year through yesterday, after five straight annual declines.”
Read more in the full article here.
MacDailyNews Take: iPhone roadkill.
Doubtful Nokia will be able to hold on long enough to reach even a modestly acceptable market share. Time is running out. Nobody needs or wants a Windows 8 phone. Another DCW.
Nokia’s new stock ticker: (OYVEY)
List of companies that tied themselves to the Microsoft operating system outdated horse & buggy whip that are now either dead or dying, in financial trouble or have entirely left the PC market altogether due to declining unsustainable margins:
– International Business Machines Corp. (sold off PC arm to Lenovo)
– Dell (in the process of being torn up, probably by Carl Icahn)
– Nokia (how to fall on your sword and catch a falling star)
– HTC (before they were Android vendors, they were Windows Mobile makers. Their WM phones were total crap)
– Compaq (died after taken over by HP which continued the tradition of making shoddy products. Remember the HP Jornada which ran Windows Mobile? Total crap)
– Texas Instruments (they used to make PC laptops)
MS, the bride from hell.
Let’s not forget about eMachines/Gateway, and Micron. Does anyone remember AT&T’s initial foray into personal computers back in the early ’90’s? Yep, it was MS-DOG & early Windows. (Their initial Unix machines with the 3B2 processors were pretty awful, too.)
AT&T had their first PC in the early 80’s. They were broken up in I think it was 87 or there abouts.
@ BLN You don’t mean Black Widow Spider by any chance, do you? as the bride from hell.
the bride from hell
At about 1:44, a curious Steve Ballmer enters the lab to meet his new bride. Her reaction is priceless
NOK shares were up as much at 9.8% during the previous 2 days, so it’s just back part of that s/t gain.
Nokia’s build quality generally is pretty good. I wonder if Google would have had them work on a Nexus phone if they weren’t with Microsoft.
Microsoft’s got the shite touch.
This is unfortunate, since Nokia has long built very reliable, high-quality phones. Such a shame that they allowed themselves to be overrun by Microsoft. On the other hand, MS has enough cash in the bank to keep Nokia alive. If Nokia is able to keep its costs under control, it will continue to be a major player in simple phones and in Apple deserts. Since Apple serves only 14 of the ~196 countries on the planet, Nokia appears to offer the next best thing for everyone that Apple refuses to serve. The Lumia line is certainly very compelling compared to Android devices from the company that forgot all about how not to be evil.
Interesting, but most people would agree if Ervasti’s quote was lightly modified:
“‘There is nothing groundbreakingly new or different in the hardware or software design, and there is limited differentiation to IPhone 4S or iPhone 5…’”
You think your lies will impress anyone here who reads your crap?
Please point out where I have in any way mislead you.
Does Nokia not build some reliable, high quality hardware?
Does MS not have a lot of cash in the bank to fund even greater future Nokia partnerships?
Does Apple have a relatively strong worldwide presence outside of the USA and the capitals of the next dozen or so richest countries on the planet?
Does Apple and its users not benefit from healthy competition?
Is Google’s Android a better competitor to rival Apple?
Is Google not evil, even by their own vague definition?
Please, geo, debunk the points one by one with your clear analysis. Or, as most of us suspect, are you just a pathetic sniper who merely attacks others who offer points of view that don’t align with your shallow narrow opinions?
Apple serves 14 countries.
Apple sells products and media in over 100 countries.
That’s service.
PS: Over 100 is more than 14.
– Apple serves 14 countries.
– Apple resellers cover the rest.
– Half of the planet has practically no Apple presence whatsoever, however smartphone sales are taking off there too.
– Apple is not growing fast enough to keep up with industry expansion.
That paint a better picture for you?
Apple has stores in approximately 40 countries – where does 14 come from? Thats the stores listed on the apple page – I think you can buy iPhones in other countries too.
Check your facts before posting nonsense.
True, apple has other resellers, but I am counting Apple retail stores — you know, the stores that don’t attempt to sell you whatever product has the highest SPIF this month.
Nokia used to build some of the best phones back in the day of Symbian and not-so-smart phones. Microsoft actually made a pretty good move to take advantage of Nokia’s weakness and take them over from within. So far, however, it appears to have been too little, too late. Microsoft tied Nokia’s hands building Windows phones with limited consumer appeal. The more recent Lumia models are reportedly not too bad, possibly better than their Android competitors in some respects. But they have not yet gained much traction in the market. However, Microsoft may yet be a player in the smartphone market if Android fragments with Samsung turning to Tizen as its preferred mobile OS and Androind facing many legal challenges. If Samsung defects, the company takes nearly all of the Android handset profits with it.
Let’s hope your instincts are correct. Sadly, fragmentation of the Android platform hasn’t slowed its growth.
Zune, Zune, Zune, gone.
Well.
The drop was not so much about investors getting disappointed as that a phone was actually released. How would traders and machines trading the marked have any idea what this phone would do for Nokia or what it would mean. This is a typical sell the news event. It happened to Blackberry last week and it has happened to Apple almost every introduction of a new device. The event is the inticiparion of the device so when the event happens you sell. It would be logical for Nokia to continue the Lumia road map just as Apple is pushing its own and Goosung. I actually think the Lumia is a beautiful phone. The design and colour scheme reminds me of something out of Apple. It looks like an iPod. Or at least how a future iPod could have looked like. I was excited for Nokia when the phone was released because it actually had allot of innovations that was very exciting and usefus. Stuff that you would think came from Apple. Real cool innovation so to speak. I was how ever disappointed that the nice looking body was made of polycarbonate and not metal because it looked really metal if you look at the presentation or pictures so this is good for Nokia I believe. I will take a look at the presentation video if there is one. And if you have not seen the introduction video of Lumia I think you can find it on YouTube on nokias channel. I recommend it.