Will Verizon Carry Nokia to Success?
Nokia (NYSE:NOK) is making some moves with Microsoft’s (NASDAQ:MSFT) still shaky Windows Phone platform, but it has high hopes and is looking to set up tactical arrangements with U.S. mobile carriers to boost sales and popularity.
Nokia has been struggling for a while now as the “cellphone” market makes the transition into the “smartphone” market, where Nokia isn’t the same powerhouse it once was. BlackBerry maker Research in Motion (NASDAQ:RIMM) certainly can share Nokia’s sentiments. Recently, Nokia decided to use Windows Phone as its main platform for entry into the smartphone market, but still faced stiff competition with Apple’s (NASDAQ:AAPL) iOS and Google’s (NASDAQ:GOOG) Android. Now, Nokia is looking for help from carriers in pushing its products.
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CHEAT SHEET Analysis: Are the deals with carriers going to be a catalyst for Nokia’s stock?
One of the core components of our CHEAT SHEET Investing Framework focuses on catalysts that will move a company’s stock, and Nokia has already proven that its dealings with carriers are a major catalyst. When Nokia announced Verizon (NYSE:VZ) would be launching more of its Lumia devices, shares jumped to their highest level in 8 months.
While Nokia’s shipments are down quarter-on-quarter, the company is making arrangements with AT&T (NYSE:T) to exclusively offer the new, high-end Lumia 920 in a move similar to the initial launch of the iPhone — except with a lower price tag. T-Mobile USA will also carry Nokia devices.
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