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AT&T Tries to Save Nokia Lumia

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By Jon C. Ogg Updated Published

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AT&T Inc. (NYSE: T) is coming to the aid of Nokia Corp. (NYSE: NOK). As it no longer has the exclusive for the Apple Inc. (NASDAQ: AAPL) iPhone, AT&T has been free to carry any smartphone it chooses. The company said that starting in November it will offer the Nokia Lumia 920 and Nokia Lumia 820 as part of its growing Windows Phone 8 portfolio.

You have to wonder if the release was sincere because AT&T’s press release said, “The Lumia 920 will be one of the hottest phones for the holidays.” Both phones will run on AT&T’s 4G LTE network and are planned to be made available from AT&T in November.

Today’s news is probably not much of a surprise. What the Nokia lovers need to consider is that Nokia is committing to the November release date and that gets the Lumia phones selling into the key holiday season.

Nokia shares are up 1.1% at $2.69 against a 52-week range of $1.63 to $7.38 and its market cap is now almost $9.9 billion.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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