Nokia (NOK) Ticks Lower as Microsoft (MSFT) Said to Be Working on Branded Smartphone

October 2, 2012 11:41 AM EDT
Nokia Corp (NYSE: NOK) is seeing some pressure Tuesday following reports that another notable competitor might be entering the Windows Phone 8 smartphone battle: Microsoft.

According to BoyGeniusReport, citing a source on the matter, Microsoft (Nasdaq: MSFT) may follow up its Surface tablet PC offering with a smartphone based around the Windows Phone 8 platform.

The smartphone will launch under the "Surface" moniker as well, according to China Times.

With the launch of its own branded device, Microsoft is no doubt looking to directly take on Apple (Nasdaq: AAPL) and Google (Nasdaq: GOOG) for mobile device dominance.

Of course, as mentioned, that's bad news for Nokia, which recently announced its Lumia 820/920 lineup. Shares are down about 3 percent Tuesday.

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