“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.