Canaccord Genuity Morning Coffee on Nokia (NOK): People Like Cheap Stuff
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Price: $10.21 +0.59%
Rating Summary:
24 Buy, 13 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
24 Buy, 13 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity Morning Coffee on Nokia (NYSE: NOK): People like cheap stuff.
Shares of Nokia got a lift on Wednesday (and this morning) after Bloomberg published two articles on the struggling phone maker. The first article highlighted the success of its Asha handset in fast growing economies such as India or China. The Asha is a more basic phone, and while less profitable for Nokia, it could influence users to stick with Nokia when they upgrade. It has become popular with users as its full screen resembles a smartphone, although it is sold at a fraction of the price. The hardware and underlying operating system is less complex than a smartphone, making it much cheaper to produce as well. A Finnish asset manager commented, “Nokia’s Asha models are selling quite well and that is good news for them since it gives the company a bit more time to get its smartphone business on track.” The other Bloomberg article noted that Verizon (NYSE: VZ) is planning to sell a new Nokia phone with Windows 8 software later this year, marking the first time that Verizon has offered a Windows device since May of 2011. Verizon is looking to lessen its dependence on iPhone (Nasdaq: AAPL) and Android (Nasdaq: GOOG) models, and with Nokia leading the Windows phone charge, a shift in focus at Verizon could help boost sales in the U.S.
Shares of Nokia got a lift on Wednesday (and this morning) after Bloomberg published two articles on the struggling phone maker. The first article highlighted the success of its Asha handset in fast growing economies such as India or China. The Asha is a more basic phone, and while less profitable for Nokia, it could influence users to stick with Nokia when they upgrade. It has become popular with users as its full screen resembles a smartphone, although it is sold at a fraction of the price. The hardware and underlying operating system is less complex than a smartphone, making it much cheaper to produce as well. A Finnish asset manager commented, “Nokia’s Asha models are selling quite well and that is good news for them since it gives the company a bit more time to get its smartphone business on track.” The other Bloomberg article noted that Verizon (NYSE: VZ) is planning to sell a new Nokia phone with Windows 8 software later this year, marking the first time that Verizon has offered a Windows device since May of 2011. Verizon is looking to lessen its dependence on iPhone (Nasdaq: AAPL) and Android (Nasdaq: GOOG) models, and with Nokia leading the Windows phone charge, a shift in focus at Verizon could help boost sales in the U.S.
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