Nokia (NOK) Moves Higher on Pending Announcement, But Don't Get Your Hopes Up...

June 18, 2012 10:17 AM EDT
Nokia (NYSE: NOK) is trading higher Monday morning following excitement being built up by the company over the weekend with today's date highlighted.

The date coincidentally aligns with Microsoft's (Nasdaq: MSFT) own product event today, which was leaked last week. With Nokia and Microsoft in collaboration over Windows Phone-based devices, no big news between the two should be expected today.

Instead, reports have Nokia expecting to announce the U.S. launch of its 808 PureView handset.

Several posts on Nokia's corporate Facebook page hinted to something happening on June 18th, though the notifications were ominous. Which is probably a good thing for Nokia.

The 808 PureView started shipping in may to European and Asian markets, meaning the U.S. will be last to get the device. The main feature of the 808 PureViews is its 41-megapixel camera, which Nokia spent five years to develop. Other than that, reviews for the device have been mixed, with many liking the durability and design, while the lower-resolution screen could've been bigger, sharper. CNET had it as one of the top five unveils at Mobile World Congress earlier this year.

The one drawback that seems to loom about the 808 PureView is that it was built on Nokia's outgoing Symbian platform, which the company will stop supporting in 2016. Though many buyers will probably swap devices before then, why would Nokia launch this product now instead of reworking it for Windows 8 later in the year. Then again, we're not executives at a smartphone company and maybe this is the perfect time to bring the 808 to market.

Microsoft's event starts at 3:30 p.m (PT), or 6:30 p.m. (ET).

Shares are up 2 percent Monday.

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