Analyst Calls Nokia (NOK) WIN8 Smartphone Event "a Disappointment"
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Price: $11.69 --0%
Rating Summary:
24 Buy, 13 Hold, 6 Sell
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Today's Overall Ratings:
Up: 5 | Down: 11 | New: 1
Rating Summary:
24 Buy, 13 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 1
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Nokia Corp. (NYSE: NOK) introduced its new Windows 8 smartphones, Lumia 920 and 820, today and things looked promising: A camera with PureView technology which allows more light in pictures and image stabilization, increasing picture quality; City Lens, an augmented reality technology, which combines the PureView camera with location based services to display points of interest while looking through the camera; heck it even has wireless charging and you can use the phone with gloves on. But despite the hype, shares are getting dumped hard.
This has investors scratching their heads.
Analysts at Wells Fargo said this is related to the lack of any positive surprises, carrier announcements or specific launch dates.
On the lack of carriers, Wells said, "We had expected that Nokia would announce AT&T as the exclusive launch partner for the 920 and likely TMobile and T as partners for the 820, but NOK provided no color on carrier partners,"
On timing and pricing, "Nokia only indicated that the phones are expected in select markets later this year."
"Given the lack of carrier partner announcements, indefinite timing, and no unexpected product announcements, we view today's event as a disappointment."
Shares of Nokia are down 11 percent to $2.52.
This has investors scratching their heads.
Analysts at Wells Fargo said this is related to the lack of any positive surprises, carrier announcements or specific launch dates.
On the lack of carriers, Wells said, "We had expected that Nokia would announce AT&T as the exclusive launch partner for the 920 and likely TMobile and T as partners for the 820, but NOK provided no color on carrier partners,"
On timing and pricing, "Nokia only indicated that the phones are expected in select markets later this year."
"Given the lack of carrier partner announcements, indefinite timing, and no unexpected product announcements, we view today's event as a disappointment."
Shares of Nokia are down 11 percent to $2.52.
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