'Thank you, RIM!' - Nokia
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"Thank you, RIM!" - Nokia
Though no direct correlation between the two can be easily surmised, it's fairly evident that part of Nokia's strength Friday morning might be tied to Research In Motion's (Nasdaq: RIMM) spectacular first-quarter results.
Does anyone know why? Yes, we do. Or, we're going to speculate for a second.
Nokia (NYSE: NOK) and RIM have been two beleaguered mobile device makers globally recently due to two simple facts: neither run Apple's (Nasdaq: AAPL) iOS nor Google's (Nasdaq: GOOG) Android. Nokia is phasing-out Symbian in favor of Microsoft's (Nasdaq: MSFT) Windows Phone series while RIM relies on its BlackBerry OS (currently at level 7).
Both Nokia and RIM were expected to show lagging sales over the next half-year, but that was all expected to change in October. Now, it might change for just one.
Yesterday, RIM announced another delay to its next BlackBerry operating system, BlackBerry 10, until the first-quarter of 2013. This is a one-quarter delay from prior expectations of release in late 2012 and is a big deal for the Waterloo, Ontario-based device maker. Not only will it cost RIM profits, but its customer base will dwindle as more and more exit for other devices. Like those from Nokia.
Though Nokia has been getting hit in the past few months due to tepid Windows Phone 7 sales, Microsoft recently debuted its new Windows Phone 8 setup. Despite aiming to be fully integrated with its Windows 8 PC operating system and new Surface tablets, current models of Windows Phone 7 devices will not be able to be upgraded to Windows Phone 8, hence the drop in Nokia's stock price (amongst other things, we know).
But, with RIM pushing back that launch of another OS, that opens the door up for Nokia moving into the latter part of 2012. It will be the holiday shopping season, a PC refresh will start, Microsoft's tablet will be out, and Nokia will be launching new devices with the updated system.
Whether or not this will be a huge boom for Nokia is unclear, as other OEMs like Samsung and HTC will likely have new devices as well. Today's news should be viewed as a positive for Nokia though, as one less competitor will be in the market when it finally gets a chance to shine.
Shares are indicated 3.3 percent better in early trading.
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Though no direct correlation between the two can be easily surmised, it's fairly evident that part of Nokia's strength Friday morning might be tied to Research In Motion's (Nasdaq: RIMM) spectacular first-quarter results.
Does anyone know why? Yes, we do. Or, we're going to speculate for a second.
Nokia (NYSE: NOK) and RIM have been two beleaguered mobile device makers globally recently due to two simple facts: neither run Apple's (Nasdaq: AAPL) iOS nor Google's (Nasdaq: GOOG) Android. Nokia is phasing-out Symbian in favor of Microsoft's (Nasdaq: MSFT) Windows Phone series while RIM relies on its BlackBerry OS (currently at level 7).
Both Nokia and RIM were expected to show lagging sales over the next half-year, but that was all expected to change in October. Now, it might change for just one.
Yesterday, RIM announced another delay to its next BlackBerry operating system, BlackBerry 10, until the first-quarter of 2013. This is a one-quarter delay from prior expectations of release in late 2012 and is a big deal for the Waterloo, Ontario-based device maker. Not only will it cost RIM profits, but its customer base will dwindle as more and more exit for other devices. Like those from Nokia.
Though Nokia has been getting hit in the past few months due to tepid Windows Phone 7 sales, Microsoft recently debuted its new Windows Phone 8 setup. Despite aiming to be fully integrated with its Windows 8 PC operating system and new Surface tablets, current models of Windows Phone 7 devices will not be able to be upgraded to Windows Phone 8, hence the drop in Nokia's stock price (amongst other things, we know).
But, with RIM pushing back that launch of another OS, that opens the door up for Nokia moving into the latter part of 2012. It will be the holiday shopping season, a PC refresh will start, Microsoft's tablet will be out, and Nokia will be launching new devices with the updated system.
Whether or not this will be a huge boom for Nokia is unclear, as other OEMs like Samsung and HTC will likely have new devices as well. Today's news should be viewed as a positive for Nokia though, as one less competitor will be in the market when it finally gets a chance to shine.
Shares are indicated 3.3 percent better in early trading.
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*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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