“Nokia Corporation held its annual Nokia World event on September 5th and 6th, and at that event, it introduced its new Lumia 920 and new Lumia 820 smartphone devices,” Saibus Research writes for SeekingAlpha. “Like the Lumia Devices introduced last November, these phones are using Microsoft’s (MSFT) Windows Phone operating system. This product announcement was widely anticipated by Nokia’s stakeholders in the wake of its poor financial performance in the first half of 2012. The hopes and dreams of Nokia’s stakeholders helped the ADR price double from $1.69 in July to $3.39 in late August, before settling down at $2.45 on September 6th.”
“Nokia’s ADRs were at $2.83 on September 4th, but declined by 15% on the 5th as the Lumia phones on Windows Phone 8 were announced,” Saibus Research writes. “Unfortunately for Nokia, Nokia World’s Lumia Launch ended up being another Stephen Elop Flop.”
Saibus Research writes, “Nokia and Microsoft collaborated on the Lumia Windows Phone devices in order to help Nokia regain its leadership in the mobile phone industry and Microsoft could regain its leadership in the smartphone operating system. We remember that in 2005, Nokia was on top of the mobile phone industry, and Microsoft’s Windows Mobile was dominating the Smartphone operating system sector. That was before Apple introduced its cutting-edge iPhone device in 2007 and Samsung allegedly infringed upon Apple’s iOS operating patents with help from Google.”
Read more in the full article here.
MacDailyNews Take:
“eFlop.” – MacDailyNews Take, September 10, 2010
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
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