Post Microsoft Corporation (NASDAQ:MSFT) deal, Nokia Corporation (NYSE:NOK) defers Phablet

Posted by Nathan Alexander September 18, 2013 0 Comment 1524 views

Nokia Corporation (NYSE:NOK) might be deferring Lumia 1520, the phablet-sized launch and it might happen only once the Microsoft Corporation (NASDAQ:MSFT) deal is closed. This handset was slated to be launched at the end of this month but that does not seem to be as possibility any longer. The company is selling its devices division to Microsoft and is holding onto this one great product till the deal closure.

The latest Smartphone

According to a report, Nokia Corporation (NYSE:NOK)’s Lumia 1520 is supposed to be a Smartphone with a 5”+ screen and would be the latest launch in the Lumia line of smartphones. This line operates on the Windows Phone system. According to Reuter’s the launch event has initially been scheduled for the latter part of September and was to be held in New York. This event has now been pushed forward by a few weeks. The company spokesperson did not comment on a new date or launch plans.

About the phablet

It is rumored that the Lumia 1520 has a 1080p 6” screen and a 20-megapixel rear-camera. Previously, the device had been dubbed “bandit” and numerous photographs had been leaked onto the internet. It has been slated to hit the U.S shelves in November. If Nokia Corporation (NYSE:NOK) is truly deferring the phablet launch then the fate of the device is something that might change as well. The Nokia Corporation (NYSE:NOK), Microsoft deal is expected to close only by the Q1 of next year. This can prove to be detrimental to the launch of a new product of its Lumia line.

Tuesday’s trading

In Tuesday’s trading, Nokia Corporation (NYSE:NOK) stock rose by 0.48%. The opening price of the shares was $6.26 which touched an intraday high of $6.37 and dipped to close at $6.27. Approximately 32.09 million shares were traded on Tuesday while the average volume of shares traded over a 30 day period was 57.42 million. The company has a market cap of $23.48 billion.

About Nathan Alexander

Nathan Alexander holds bachelor’s degrees in Journalism and European Studies from Boston University. Nathan reports round up the day’s business and financial market news and include keynote interviews with major business players and updates on Asian, European and US stock markets. He has interviewed heads of leading European banking institutions such as European Central Bank President Jean-Claude Trichet and HSBC Chairman Stephen Green, and CEOs from the business world including Microsoft founder Bill Gates, Virgin Chairman Sir Richard Branson and former Porsche President and CEO Dr Wendelin Wiedeking.

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