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Telecom & Wireless

Will a Verizon-Nokia Partnership Really Matter?

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By Jon C. Ogg Updated Published
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Nokia
Nokia Corporation (NYSE: NOK) is not exactly deemed a winner after its smartphone debut this week with the Windows 8 smartphones powered by Microsoft Corporation (NASDAQ: MSFT).  Or is it?  The Wall Street Journal is reporting that Verizon Communications Inc. (NYSE: VZ) has confirmed that it will enter into a partnership with Nokia which will likely include the Windows 8 smartphones.

What sort of partnership this is may be nothing more than carrying the new phones at the Verizon stores.  That being said, who knows if carrying the phones will result in major sales as the Apple Inc. (NASDAQ: AAPL) iPhone 5 is set to launch on September 12 long before the Nokia phones can make it to market.

Nokia had taken at least three downgrades this morning, but shares are currently up by almost 3% at $2.44 on more than 86 million shares in less than the first two hours of trading. Until more details are known it is hard to try to interpolate any new changes to the expected sales figures.

Nokia remains challenged even if all carriers agree to make the new smartphones available.

JON C. OGG

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.

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