UBS Says New HTC 8X/8S Line Makes Nokia's (NOK) Smartphone Future 'Uncertain'
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Price: $10.18 +0.30%
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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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Nokia (NYSE: NOK) shares are weaker Monday morning following comments made by UBS earlier today over expected quarterly results and momentum.
UBS said Nokia's volumes in the quarter have been "poor," with expectations for Lumia sales in the fourth-quarter now being "dented" by HTC's recent unveiling of its 8X and 8S line. Both Nokia's Lumia 820/920 and HTC's 8X/8S run Microsoft's (Nasdaq: MSFT) Windows Phone 8 operating system and will be direct competitors. Last week, Samsung's WP8 model was detailed, though the design seemed rather bland.
HTC 8X/8S are said to have better carrier support and are likely to be released before the Lumia 820/920 series, UBS noted.
Amid struggles at the top, UBS noted that checks indicated continued strength in Nokai's lower-end feature phone business. The firm is modeling sales of 75 million units for Nokia's upcoming quarter, up from 72 million units shipped in Nokia's prior quarter.
UBS maintains a Neutral rating and €2.20 price target on the stock.
Also pressuring Nokia are reports that Foxconn -- a major consumer electronics ODM in Taiwan -- has halted production at one of its facilities today due to a worker roit over the weekend. For more, click here.
UBS said Nokia's volumes in the quarter have been "poor," with expectations for Lumia sales in the fourth-quarter now being "dented" by HTC's recent unveiling of its 8X and 8S line. Both Nokia's Lumia 820/920 and HTC's 8X/8S run Microsoft's (Nasdaq: MSFT) Windows Phone 8 operating system and will be direct competitors. Last week, Samsung's WP8 model was detailed, though the design seemed rather bland.
HTC 8X/8S are said to have better carrier support and are likely to be released before the Lumia 820/920 series, UBS noted.
Amid struggles at the top, UBS noted that checks indicated continued strength in Nokai's lower-end feature phone business. The firm is modeling sales of 75 million units for Nokia's upcoming quarter, up from 72 million units shipped in Nokia's prior quarter.
UBS maintains a Neutral rating and €2.20 price target on the stock.
Also pressuring Nokia are reports that Foxconn -- a major consumer electronics ODM in Taiwan -- has halted production at one of its facilities today due to a worker roit over the weekend. For more, click here.
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