Nokia delays flagship N8 phone again, shares hit

InvisibleSHIELD.  Scratch Proof your iPhone 4!“Nokia said it would delay again its flagship smartphone N8 model, hitting its shares on the day new chief executive Stephen Elop started at the helm,” Tarmo Virki reports for Reuters. “The N8 is seen by analysts as Nokia’s first top-range model to challenge Apple’s iPhone more than three years after its launch.”

MacDailyNews Take: First? Not quite:
• Nokia halts sale of iPhone killer; 5800 handset plagued with major problems – March 02, 2009
Nokia preps N97 ‘iPhone killer’ – December 02, 2008
Nokia to unveil ‘iPhone killer’ code-named ‘Tube’ on October 2 – September 26, 2008
• The knockoff parade continues: Nokia exec shows Apple iPhone lookalike ‘Tube’; dismisses Apple – April 08, 2008

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Virki reports, “Its success is seen as being crucial for Nokia’s profit margins, and analysts warned on Tuesday the delay could hit earnings in the third and fourth quarter.

“Nokia shares were 3.2 percent lower at 7.62 euros by 1203 GMT, underperforming 0.2 percent softer STXE 600 Technology index .SX8P,” Virki reports. “‘Given an envisaged around 3-5 week delay in N8 ramp-up, as well as potential further execution delay around the remaining product portfolio refresh, we believe Q4 sell-side estimates are too high,’ Citigroup analyst Zahid Hussein said in a note.”

“The N8 smartphone, first to use Nokia’s new Symbian software, was originally scheduled to reach consumers in June,” Virki reports. “In April, Nokia warned that the software renewal would take longer than it had expected due to quality problems and said that the N8 would reach consumers by the end of September.”

Full article here.

MacDailyNews Take: Nokia is a tarnished brand and a floundering company who can’t back up their big mouths. Watching them crash and burn will be particularly enjoyable.

23 Comments

  1. Nokia’s market has slipped so far down, Apple could easily buy out all outstanding shares and still have almost $10B left in the bank. In other words, just buy the company for the patents and perhaps manufacturing facilities.

    Not that the investment would make any sense for Apple; just that they could easily do it.

  2. MDN, the quote “The N8 is seen by analysts as Nokia’s first top-range model to challenge Apple’s iPhone more than three years after its launch.” could still be a true statement. All you have to do is believe that they (the “analysts”) have conceded that the earlier attempts you listed were abject failures, but hope that the N8 will succeed. It’s all about spin.

    @DustyMac, best entry on this topic so far!

  3. I’m the biggest Apple Fanboy around by far and could care less what happens to Nokia, but the truth is that Nokia will probably be around for quite a while yet. As it happens, the iPhone does NOT cost $200 in all countries. In some countries it costs $500-700 (with or without a plan). The plain economic fact is that not everyone can afford this and not everyone even really wants a smart phone (do you really want to give such an expensive device to your teenager?).

    Anyway, cheap phones will be around for a while and, therefore, so will Nokia…

  4. These takes have a completely different tone than the previous masked pen. The condescension feels amateurish. The MDN brand can deliver meaningful insight, or Thurott-ish petulant fanboy. For years, you were the former, now the latter. The market decides.

  5. Speaking of Thurott, where has he been? Haven’t heard much of his way off the mark flamatory comments in a while.
    Has MDN just made his commentary less than credible? Has he now lost relevance?
    Same question re Dvorak?

  6. I have read MDN for some time and usually enjoy it. But I must admit that this “if it ain’t Apple it sucks and must die” MDN takes of late are becoming needlessly churlish and childish. I realize this an Apple zone but “News” is part of the brand. This is behaving more like a rabid sports fan arena where only one team matters. I leave it to your imagination if there were only one team. I know a great many dedicated Nokia employees and I do not wish their company to crash and burn. Grow up MDN!

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