Nokia Corporation Lumia Series Have Failed To Perform, Despite Being Appraised By Critics
Posted On 22 Aug 2013
By : Viraj Shah
avauncer.com
Denver, CO, 08/22/2013 (Avauncer.com) – Shares of Nokia Corporation (ADR) (NYSE:NOK) were down 0.49% to close at $4.04. The share price remained at the late end of its 52-week range of $2.27 to $4.90. However, shares remained heavily traded with 25.01 million shares changing hands, up from the average volume of 19.50 million shares.
The company has received positive response from all around with regard to its Lumia series, particularly Lumia 520 which is considered a success already. However, the company has decided to stick to its roots, by unveiling two simple phones including Nokia 106 and Nokia 107 Dual SIM.
The decision came when the company has not been faring well overall, but has still seen to outdo other competitors who make Window based phones. It is also speculated that if this is the case, then Nokia would be left the only company by year end which would make Windows smartphones.
The company may however not be able to sustain the popularity of its Windows line of phone, which may be the main reason for the company to witness a share price of as low as $2 per share.
Speculations have been rife in the market about the coming quarter earnings which is expected to decline, particularly pointed out by Stanford Bernstein in its report. It is in this response that share prices have fallen in recent times. Pierre Ferragu, the analyst who authored the report is of the view that Nokia smartphones have failed to woo its customers, meaning with declining revenues, a weak year may be ahead for investors.
The company had put at stake its revival at the back of its OS platform Windows Phone 8. Though the failure has caused disadvantage for Microsoft, the failure has hit particularly hard Nokia, which has rendered its line of smartphones unpopular. |
