S&P 500
7,582.20
+0.03%
Dow Jones
51,018.80
+0.58%
Nasdaq 100
30,344.40
+0.25%
Russell 2000
2,916.31
-0.54%
FTSE 100
10,378.60
-0.32%
Nikkei 225
66,231.90
+0.67%

Telecom & Wireless

Nokia’s New Phone Gimmick (NOK, AAPL, GOOG, MSFT)

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Nokia
Mobile phone maker Nokia Corp. (NYSE: NOK) introduced three new smartphones in Hong Kong today. The new phones use the latest version of the company’s soon-to-be-defunct Symbian operating system. The idea that any of these phones has a chance to compete with the iPhone from Apple Inc. (NASDAQ: AAPL) or smartphones running the Android operating system from Google Inc. (NASDAQ: GOOG) is beyond nonsensical.  Even calling this a gimmick feels a bit optimistic.

Nokia said it expects to sell 150 million handsets with the Symbian operating system well into 2012. If that happens, it remains questionable that the company will realize any significant profit from those sales.

The company has all but killed Symbian and these new phones, which have been in the pipeline for a while, are just a bit of attention-getting on Nokia’s part as the company prepares to launch later this year its first phones with a new operating system from Microsoft Corp. (NASDAQ: MSFT).

Nokia expects the new smartphones to sell well in China, one of the company’s major markets and a place where inventory problems have hampered profits.

But the big problem is that Nokia trails both Apple and Samsung Electronics in the smartphone handset market, having lost more than half its market share from May 2010 to May 2011. Symbian won’t bring that share back, and it’s doubtful that the partnership with Microsoft will either.

Nokia’s shares are down nearly -3% at around noon today, at $5.94, within a 52-week range of $4.82-$11.75.

Paul Ausick

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of Jon C. Ogg
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.

Continue Reading

Paul Ausick |

Nokia Profit Vanishes, Share Price Rises (NOK, AAPL, SSNLF, MSFT)

Telephone handset maker Nokia Corp. (NYSE: NOK) posted a loss of -$1.4 billion early this morning as the company’s sales…

Douglas A. McIntyre |

Uh-oh — Nokia on S&P Credit Watch Negative (NOK, GOOG, MSFT, AAPL, INTC)

NokiaStandard & Poor’s suspects that the new strategy from Nokia Corp. (NYSE: NOK), set to be announced February 11th, is…

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…

Paul Ausick |

More Than All Smartphone Profits Go to Apple, Samsung (AAPL, RIMM, NOK, GOOG, MSFT)

In yet another sign that the smartphone market is a two-horse race, Apple Inc. (NASDAQ: AAPL) and Samsung Electronics together…

Paul Ausick |

Nokia at New Low on Class-action Suit (NOK, MSFT, AAPL, GOOG)

Shares of Nokia Corp. (NYSE: NOK) touched a new 52-week low today at $3.12. The struggling handset maker has been…

Douglas A. McIntyre |

Nokia: More Phones, Fewer Workers

NokiaNokia (NYSE: NOK) launched two new smartphones based on the aged Symbian operating system. Symbian has been rejected by the…

Jon C. Ogg |

Google, Apple Gain Shares of SmartPhone Market (GOOG, AAPL, RIMM, MSFT, NOK, SCOR, MMI, SSNLF)

The Android operating system from Google Inc. (NASDAQ: GOOG) is the leading platform smartphone platform in among 78.5 million US…

Jon C. Ogg |

Nokia, Microsoft in Talks for Windows Phone 7? (NOK, INTC, MSFT, AAPL, GOOG, RIMM)

The troubles that Nokia Corp. (NYSE: NOK) has had getting a worthy competitor into the smartphone market are pretty well…

Douglas A. McIntyre |

Forgotten Smartphone Companies Disappear

ThinkstockAlmost every major point in the Gartner third-quarter mobile phone report was expected. Sales rose 47% over the same period…

Top Gaining Stocks

Dell Technologies
DELL • Vol: 42,366,555
NetApp
NTAP • Vol: 15,911,807
ServiceNow
NOW • Vol: 68,243,561
IBM
IBM • Vol: 28,527,546
Hewlett Packard Enterprise
HPE • Vol: 86,996,387

Top Losing Stocks

Coterra Energy
CTRA • Vol: 73,319,495
Clorox
CLX • Vol: 4,744,001
ResMed
RMD • Vol: 3,526,686
Intel
INTC • Vol: 191,680,425
Skyworks Solutions
SWKS • Vol: 5,407,806