Nokia (NOK) CEO Elop Welcomes Competition from Microsoft (MSFT) in Smartphones
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Nokia (NYSE: NOK) shares are slumping on the session following third-quarter results issued earlier. (For more on the numbers, click here.)
One interesting point is the potential competition for Nokia's Lumia 820/920 line, which runs Microsoft's (Nasdaq: MSFT) Windows Phone 8 (WP8), from Microsoft itself. Earlier in October, Microsoft was said to be working on a branded smartphone to enhance the WP8 ecosystem. It makes sense given Microsoft's upcoming release of its first PC, the Surface tablet.
But, how does Nokia CEO Stephen Elop feel about the potential competitor? "It's certainly a stimulant to the ecosystem," Elop said during Nokia's quarterly call today. "We're encouraging of HTC and Samsung and Microsoft or whomever to have devices in the market and to be making whatever investments that helps spur the ecosystem on..."
Elop might be on to something; up until recent, Taiwan ODM HTC made a killing on sales of Google (Nasdaq: GOOG) Android-equipped devices, amid heavy competition coming in from every direction. With more and more users adopting the OS and chatting about its features, it was only natural that others would want an Android-equipped devices. The same goes for Apple's (Nasdaq: AAPL) iOS, though that a different beast altogether.
Nokia stock is about 3 percent lower Thursday.
One interesting point is the potential competition for Nokia's Lumia 820/920 line, which runs Microsoft's (Nasdaq: MSFT) Windows Phone 8 (WP8), from Microsoft itself. Earlier in October, Microsoft was said to be working on a branded smartphone to enhance the WP8 ecosystem. It makes sense given Microsoft's upcoming release of its first PC, the Surface tablet.
But, how does Nokia CEO Stephen Elop feel about the potential competitor? "It's certainly a stimulant to the ecosystem," Elop said during Nokia's quarterly call today. "We're encouraging of HTC and Samsung and Microsoft or whomever to have devices in the market and to be making whatever investments that helps spur the ecosystem on..."
Elop might be on to something; up until recent, Taiwan ODM HTC made a killing on sales of Google (Nasdaq: GOOG) Android-equipped devices, amid heavy competition coming in from every direction. With more and more users adopting the OS and chatting about its features, it was only natural that others would want an Android-equipped devices. The same goes for Apple's (Nasdaq: AAPL) iOS, though that a different beast altogether.
Nokia stock is about 3 percent lower Thursday.
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