Nokia Oyj fell as much as 5.6 percent in Helsinki trading after introducing a smartphone that disappointed investors anticipating a handset attractive enough to push forward the company’s comeback effort.
Nokia Oyj , the world’s largest maker of mobile phones, will add swiping and wireless identification features in updates to its new line of Symbian smartphones to compete with Google Inc. ’s fast-developing Android platform.
When Angelo Amato, a former Nokia Oyj customer, went to get a new smartphone at an AT&T Inc. store in Manhattan last week, he never got a chance to even see the Finnish company’s models. The shop didn’t have any of Nokia’s nine-month-old Lumia line on display and the salesman didn’t mention it as an option.
Nokia Oyj , the world’s biggest maker of mobile phones, tumbled the most in almost 19 months on investor concern that a partnership with Microsoft Corp. won’t be enough in its battle with Google Inc. and Apple Inc.
Nokia Oyj’s biggest U.S. release in years started with a glitch that led the company to give customers a $100 credit on their phone bills, effectively reducing the price of its high-end Lumia 900 smartphone to zero.
Nokia Oyj, the world’s third-largest smartphone maker by shipments, will sell a Windows Phone priced at 189 euros ($254) in the second quarter to capture first-time users against similar devices powered by Google Inc.’s Android.
Microsoft Corp. will support higher prices on mobile-phone applications from outside developers to encourage better products, rather than embracing the free or 99- cent apps common in other companies’ stores.