Nokia Extends Gains on Product Plans in Barcelona Show
Nokia Oyj (NOK1V) rose a fifth consecutive trading day in Helsinki, the longest streak of gains in 14 months, as the world’s largest maker of mobile phones prepared to return to the biggest European trade fair in its industry.
Nokia rose 2.5 percent to 4.18 euros at the close of trading in Helsinki, pushing the stock 11 percent higher since Feb. 13. That’s the most consecutive increases since a seven-day streak in December 2010. The Espoo, Finland-based manufacturer will display products at the Mobile World Congress in Barcelona, Spain, starting Feb. 27, its first appearance on the show floor in three years.
New products that Nokia may introduce at the trade fair include an expansion of the Lumia line that runs on Microsoft Corp. (MSFT)’s Windows Phone, the Techradar and Pocketnow blogs said in reports starting Feb. 13. The models may include a global version of the Lumia 900, which was announced in the U.S. in January, as well as a low-priced handset called the Lumia 610, according to the industry blogs.
“People are turning more positive in the short term because there should be plenty of announcements,” said Sami Sarkamies, a Helsinki-based analyst at Nordea Bank. “The share was perhaps oversold after the fourth-quarter report, which was followed by downgrades and target-price reductions.”
The Finnish company is also expected to introduce three low-priced models in its Asha line and one smartphone running its 10-year-old Symbian software, Pocketnow reported. Nokia said on Jan. 26 that it’s scrapping a target of 150 million more devices based on Symbian that the company had set during a strategy change in February 2011. It didn’t provide a new goal.
There has also been speculation about a CDMA-technology version of the Lumia 800 handset and an LTE version of the Lumia 710, providing a cheap handset for fourth-generation networks, Nordea Bank’s Sarkamies said.
Doug Dawson, a Nokia spokesman, declined to discuss any products the company will put on display at the show.
Apple Inc. (AAPL), the third-largest maker of mobile phones and the biggest vendor of smartphones, doesn’t participate in Mobile World Congress.
Nokia last had a booth at the congress in February 2009. Since then, the company has held off-site press conferences during the show, including an announcement two years ago of an alliance with Intel Corp. to produce the MeeGo smartphone software and Chief Executive Officer Stephen Elop’s session last year to explain details of his decision to adopt Windows Phone and other elements of Nokia’s strategy shift.
To contact the reporter on this story: Diana ben-Aaron in Helsinki at email@example.com