Nokia (NOK) Slumps as Windows Phone 8 Uncertainty Continues to Linger
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Nokia Corp. (NYSE: NOK) is lower out of the gate Friday, following a stunning 7 percent run on Thursday amid a narrower than expected loss in the second quarter.
Some pressure might be coming from Microsoft (Nasdaq: MSFT). Following Microsoft's second quarter earnings release late Thursday, the software giant held a conference call.
Now, as anyone who has been paying attention to the Nokia saga knows, the Finnish mobile device maker is banking on Microsoft's Windows Phone to lead it to the promised land. Nokia has eschewed Symbian, which had been arguable successful, and Google's (Nasdaq: GOOG) Android, which is successful, for a product which has failed to spur interest.
On Wednesday, Microsoft basically set the launch date for Windows 8 on October 26th, or thereabouts.
However, on Microsoft's quarterly call Thursday, not much was mentioned about when Windows Phone 8 will come out. Here's what Investor Relations GM Bill Koefoed had to say about Windows Phone 8:
"For Windows Phone, there are now approximately 100,000 apps in the marketplace and Windows Phone unit sales grew more than 50% sequentially. In June, we announced that Windows Phone 8 will arrive later this year. Windows Phone 8 is based on the same core technologies that power Windows 8 and it will unleash a new wave of features for consumers, developers and businesses."
So, there's no firm date. With continued uncertainty in the air, investors have to question what Nokia plans to do between now and then, with Windows Phone 7 models not going to be compatible or upgradable with Windows Phone 8. Are another three quarters of soft device sales in the works? Will Nokia's foray into tablets, another burgeoning industry, also be put on hold with no Windows Phone 8?
Investors have been speaking with their dollars and the message is pretty loud today. Shares are down just over 5 percent on the session, all but giving up Thursday's gains.
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Some pressure might be coming from Microsoft (Nasdaq: MSFT). Following Microsoft's second quarter earnings release late Thursday, the software giant held a conference call.
Now, as anyone who has been paying attention to the Nokia saga knows, the Finnish mobile device maker is banking on Microsoft's Windows Phone to lead it to the promised land. Nokia has eschewed Symbian, which had been arguable successful, and Google's (Nasdaq: GOOG) Android, which is successful, for a product which has failed to spur interest.
On Wednesday, Microsoft basically set the launch date for Windows 8 on October 26th, or thereabouts.
However, on Microsoft's quarterly call Thursday, not much was mentioned about when Windows Phone 8 will come out. Here's what Investor Relations GM Bill Koefoed had to say about Windows Phone 8:
"For Windows Phone, there are now approximately 100,000 apps in the marketplace and Windows Phone unit sales grew more than 50% sequentially. In June, we announced that Windows Phone 8 will arrive later this year. Windows Phone 8 is based on the same core technologies that power Windows 8 and it will unleash a new wave of features for consumers, developers and businesses."
So, there's no firm date. With continued uncertainty in the air, investors have to question what Nokia plans to do between now and then, with Windows Phone 7 models not going to be compatible or upgradable with Windows Phone 8. Are another three quarters of soft device sales in the works? Will Nokia's foray into tablets, another burgeoning industry, also be put on hold with no Windows Phone 8?
Investors have been speaking with their dollars and the message is pretty loud today. Shares are down just over 5 percent on the session, all but giving up Thursday's gains.
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