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Nokia (NOK), the world's largest manufacturer of cell phones, has been hit hard over the past year as Google (GOOG) and Apple (AAPL) ramped up market share in the market for mobile devices. The company, which has a 40% share of the world's cell phone market, has been struggling to develop a smartphone that will let it compete not only with the Android operating system, but also with the iPhone and the BlackBerry, by Research In Motion (RIMM). While Nokia fumbled, the stock, which traded at more than $15 per share in April, has fallen about 38% and now trades around $9.50.
But things could be about to turn around.
Time to Get Bullish on Nokia?
Next week, at Nokia World, the company will unveil a smartphone that is squarely aimed at the gaining back market share from Apple and Google. The device is called the E7, and while few details have yet been revealed, it will likely feature a touch screen keyboard and operate on Nokia's Symbian operating system.
Bull vs. Bear on Shares of Nokia (NOK), Motorola (MOT) and Research In Motion (RIMM)
The prospect of a new smartphone from Nokia has led Morgan Stanley to raise its rating on the company's stock from underweight to overweight. The company says that after 11 years, the average selling price of a Nokia handset could grow for the first time.
While Nokia certainly has a great deal going for it, including its prominent position in the worldwide market for cell phones, there are also many risks including the company's failed attempt to really break into the U.S. market. But if the new smartphone turns into a foundation for future growth, and if it attracts application developers (a key point in the battle for smart phone market share) Nokia could be beginning its long awaited turnaround.
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Reader Comments (Page 1 of 1)
9-08-2010 @ 10:48AM
Stoli89 said...
The new Nokia phones may well be quite nice (N8, E7, E7, C6-01), but the under-reported news regarding Qt development is KEY. Nokia owns Qt, which is a cross development framework allowing developers to CODE ONCE for multiple platforms. Nokia has ported this to both Symbian (^1, ^3, ^4) AND Meego. It will also allow porting to other OS' including Android, WP7, WebOS. In essence, it's a very efficient and resource effective way for developers to work. With Nokia's revised T&C's with developers to the OVI store...the hi quality app population will be very interesting to monitor going forward. Qt allows for fast, visually intensive, Memory efficient app developments that will work well in portable/embedded devices and/or systems. It's used by HP, Adobe, Skype, TI, Google, Thomson Reuters, European Space Agency...to name some noteworthy organizations. It was launched in finished form this August on Symbian and Meego...this is bigger news than just one handset, IMHO. The N8 does come with the Qt libraries pre-installed.