Nokia (NOK) Ticks Higher; Investors Eye China as Key Growth Market for WP Devices
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Nokia (NYSE: NOK) shares are indicated higher Friday amid reports it might experience resounding success in one of the world's rapidly growing smartphone markets.
According to ChinaDaily.com, Nokia's debut of Microsoft (Nasdaq: MSFT) Windows Phone-based devices in March was significantly later than releases in Europe, and the devices are seeing stronger traction in the country. The data was affirmed earlier this week when a rep for Nokai's China operations said the country was the single-biggest market for Windows Phone devices manufactured by Nokia.
Nokia is the largest global distributor of Windows Phone handsets, holding 59 percent of the market, according to research firm Localytics. However, in the grand scheme of things, Windows Phone boasts just a 3 percent stake in the overall smartphone market, research firm Gartner recently reported.
But, 2012 and 2013 could be big years for Nokia and its Lumia series. IHS data suggests that China's smartphone market could grow to 160 million subs in 2012, up a blistering 141 percent from 67 million in 2011.
To be sure, Nokia will still focus on more-profitable markets like the U.S. and Europe, but may release handsets based on Windows Phone 7.8 in China. One handset in particular, Nokia Glory, is expected to be the follow-up device from the Lumia 610.
Shares are over 5 percent higher in early trading Friday. Nokia got a little boost Thursday following the confirmation that its next series of Lumia devices would make their way onto Verizon's (NYSE: VZ) wireless network within the next few months.
According to ChinaDaily.com, Nokia's debut of Microsoft (Nasdaq: MSFT) Windows Phone-based devices in March was significantly later than releases in Europe, and the devices are seeing stronger traction in the country. The data was affirmed earlier this week when a rep for Nokai's China operations said the country was the single-biggest market for Windows Phone devices manufactured by Nokia.
Nokia is the largest global distributor of Windows Phone handsets, holding 59 percent of the market, according to research firm Localytics. However, in the grand scheme of things, Windows Phone boasts just a 3 percent stake in the overall smartphone market, research firm Gartner recently reported.
But, 2012 and 2013 could be big years for Nokia and its Lumia series. IHS data suggests that China's smartphone market could grow to 160 million subs in 2012, up a blistering 141 percent from 67 million in 2011.
To be sure, Nokia will still focus on more-profitable markets like the U.S. and Europe, but may release handsets based on Windows Phone 7.8 in China. One handset in particular, Nokia Glory, is expected to be the follow-up device from the Lumia 610.
Shares are over 5 percent higher in early trading Friday. Nokia got a little boost Thursday following the confirmation that its next series of Lumia devices would make their way onto Verizon's (NYSE: VZ) wireless network within the next few months.
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