S&P 500
7,401.00
+0.91%
Dow Jones
49,665.70
+0.19%
Nasdaq 100
29,241.00
+2.43%
Russell 2000
2,860.88
+0.82%
FTSE 100
10,263.70
+0.48%
Nikkei 225
63,767.70
+2.68%

Consumer Electronics

Nokia (NOK) Takes On Apple (AAPL)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

If any company has the chance to take on the Apple (AAPL) iTunes/iPod franchise it is Nokia (NOK). It has started its own music store and recently signed up Warner Music (WMG).

According to the FT, "Warner’s participation means Nokia, the world’s largest mobile phone maker, has enlisted three of the four largest record groups,"

Nokia controls 40% of the global market in handsets, selling over 400 million units per annum. That gives it a significant amount of leverage in terms of what software and services run on its phones. The company has decided that as the price of handsets drops, being in the business of providing wireless customers with products like music downloads is a way to keep its profits up.

Apple iTunes already has 75% or more of the digital music distribution business. With that high ground, it may never be dislodged. Nokia could move into a strong second place. But, for a company its size, having 10% of the market does not do it much good.

Nokia is better off trying to build its own iPhone. At least Apple does not have a huge advantage in the handset business. Yet.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Douglas A. McIntyre |

Microsoft (MSFT) Finds Another Way To Go After The iPod

Microsoft’s (MSFT) Zune does not seem to be doing much good getting the company a piece of the Apple (AAPL)…

Douglas A. McIntyre |

Nokia (NOK) Joins The Great Masses Chasing Apple (AAPL) And Pamela Anderson

Nokia (NOK) will join the scores of consumer electronics companies which have lost billions of dollars on the Hollywood walk…

Douglas A. McIntyre |

Apple (AAPL): The iPhone’s Grandiose Plans

Steve Jobs sees that smartphones, especially the Apple (AAPL) iPhone are the future of computing.  Who needs a PC when…

Douglas A. McIntyre |

Nokia: Shaking Up Officers On The Titanic

A number of news media have recently reported that Nokia (NYSE: NOK) CEO Stephen Elop will replace a large number…

Douglas A. McIntyre |

NBC Joins Universal Leaving iTunes

NBC has told Apple (AAPL) that it will not renew its long-term deal with the iTunes store. The GE (GE)…

Douglas A. McIntyre |

Music Download Business Gets More Crowded

Stocks: (RNWK)(NOK)(MOT)(AAPL)(MSFT)(SNDK) Nokia is talking about starting a music download business. It can now compete with Apple, RealNetworks and Sandisk,…

Douglas A. McIntyre |

Sony-Ericsson’s New Music Store (NOK)(AMZN)(AAPL)

Big handset company Sony-Ericsson is launching its own music store following about a billion other companies into the business of…

Paul Ausick |

Samsung Leads Smartphone Market

The latest rankings are out from comScore Inc. (NASDAQ: SCOR) on the US smartphone device and platform markets. Samsung Electronics…

Douglas A. McIntyre |

If Sirius (SIRI) Fails, Who Wins? (XMSR)(AAPL)(NOK)(T)(VZ)(S)

Most Wall St. observers now think that the merger between Sirius Satellite Radio (SIRI) and XM Satellite Radio (XMSR) will…

Top Gaining Stocks

Akamai
AKAM • Vol: 21,556,944
Micron Technology
MU • Vol: 65,135,624
Intel
INTC • Vol: 227,504,426
Monster Beverage
MNST • Vol: 15,284,847
Dell Technologies
DELL • Vol: 12,167,525

Top Losing Stocks

Mettler Toledo International
MTD • Vol: 539,266
Motorola Solutions
MSI • Vol: 3,101,643
Expedia
EXPE • Vol: 4,189,786
Coterra Energy
CTRA • Vol: 73,319,495
Fidelity National Information Services
FIS • Vol: 11,468,820