Nokia Jumps After Tele2 Says It Sold Out of Lumia Handsets
Nokia Oyj (NOK1V), the Finnish handset maker relying on its Lumia smartphones to reverse market share losses, jumped in Helsinki trading after a Swedish carrier said it sold out of the models two weeks before Christmas.
“We sold out of the Lumia and hope to get more before Christmas,” Thomas Ekman, head of Tele2 AB (TEL2B)’s Swedish operations, said in an interview in Stockholm today. Ekman said the company received 2,000 to 3,000 Lumia handsets initially.
Shares of Espoo, Finland-based Nokia jumped about 2.4 percent to as much as 2.99 euros from their intraday level after Ekman’s comments. They closed at 2.93 euros, or 0.3 percent lower, on the Helsinki exchange.
Nokia, which switched to Microsoft Corp. (MSFT)’s Windows software as the platform for its smartphones, is looking to win back lost market share from Apple Inc. (AAPL) and devices running Google Inc. (GOOG)’s Android operating system. The iPhone 5 can’t connect to the fastest networks of most European carriers, creating a potential opening for Nokia.
Nokia’s Lumia 920 and Lumia 820 allow users to access the about two dozen LTE mobile networks in western Europe, according to Strategy Analytics. The iPhone 5 only works on the LTE network of two carriers -- Deutsche Telekom AG in Germany and EE, a U.K. venture of Deutsche Telekom AG (DTE) and France Telecom SA. (FTE)
Last week, Nokia won an agreement with China Mobile Ltd. (941) to carry the Lumia 920T, the first Lumia based on Windows Phone 8 software for the Chinese market and compatible with the country’s homegrown TD-SCDMA wireless technology.
In a separate interview, Tele2 Chief Executive Officer Mats Granryd said the company plans to stay in the Russia and doesn’t “feel forced” to change its strategy in that market.
Tele2 failed to win a fourth-generation license in Russia in July to offer faster data services. OAO Mobile TeleSystems, OAO MegaFon and OAO Rostelecom have said they could potentially be interested in Tele2’s Russian business.
To contact the reporter on this story: Adam Ewing in Stockholm at email@example.com