How Will Nokia Corporation (ADR) (NYSE:NOK) Benefit From Leak Of Music Cross-Platform?
While the stock of Nokia Corporation (ADR) (NYSE:NOK) marked fresh 52 week high of $8.01 on Friday, the recent leaks from China reports Nokia Music could go cross platform as the company is believed to release the web app versions of Nokia Music. The Nokia Music is an answer to Apple Inc. (NASDAQ:AAPL)’s iTunes as it allows Nokia Corporation (ADR) (NYSE:NOK)’s Lumia users with list of songs, artists and albums in over 40 countries.
The Cross Platform Service
The alleged cross platform service would make the Nokia Music app available to Apple Inc. (NASDAQ:AAPL)’s iOS and Mac devices, Google Inc. (NASDAQ:GOOG)’s Android packed devices and Microsoft Corporation (NASDAQ:MSFT)’s Windows platforms. This cross platform service will allow users to deep into Nokia Music’s ecosystem. However, there was no reporting on when this app could possibly be launched.
Moreover this rumor is also considerable as the talks are also going that Nokia Corporation (ADR) (NYSE:NOK) may shut down its Nokia Music following the completion of acquisition by Microsoft Corporation (NASDAQ:MSFT). However there are also reporting that Microsoft could roll our Nokia Music’s features into its existing Xbox Music platform.
Nokia Music’s Microsoft Connection
In early 2013, Nokia Corporation (ADR) (NYSE:NOK) launched its Nokia Music+ services for its Windows based Lumia phones, allowing the Lumia users to access unlimited song downloads among other features like MP3 Playback, Mixes, Offline Mixes, Artist Mix, Artist Page among others. Nokia offered this services at as low as $3.99 per month. This compares to almost 2.5 times the subscription offered by Microsoft Corporation (NASDAQ:MSFT)’s Xbox Music service that charges $9.99 a month or $99.99 on an annual subscription.
However Nokia Music being part of Smart Devices business is part of the Microsoft Corporation (NASDAQ:MSFT)’s deal which is expected to be completed by 1Q14. If in case, following the acquisition, Microsoft decides to shut down the Nokia Music services, Lumia users may lose out the cheaper music on their smartphones.