Shares of Nokia Corporation (ADR)(NYSE:NOK) slumped another 6% to $2.85 after plunging 7% in the previous trading session. The stock had gained over 60% in the past one month.
The stock prices of many companies have been affected in the wake of Apple Inc.’s victory against Samsung Electronics Co. last Friday. Where on hand the shares of Nokia have stumbled by 5 % indicating a fall of 16 cents per share to close at $3.08; the stock of Research in Motion (RIMM) indicates an upward arrow of 5 cents to close at $7.12. However, the stock price of both the companies showed an upswing as analysts anticipate the greater prospects in phones from Nokia which is running on Microsoft‘s (MSFT) “Windows Phone” software, or from RIM’s upcoming “BB10” update to its BlackBerry software, keeping in mind that Google‘s (GOOG) Android software seems to have suffered a setback because of the Apple victory.
Can NOK Resume Uptrend Soon? Find Out Here
It seems that good fortune roll for Nokia which is likely to benefit from Apple’s win of patent lawsuit. The company is expected to hold an event in collaboration with Microsoft to promote the latest version of its Window Windows Phone, Windows Phone 8, and perhaps new Nokia “Lumia” phones running that software. The news of the event which would be held in the New York City on September 5th was given by Chris Burns at The Verge last week. It anticipated that Nokia with its unique Lumia form-factor and its partnership with Microsoft may turn out to be another beneficiary of the verdict. Additionally, both companies have a treasure trove of mobile patents, which we believe, safeguard them from possible patent litigation.”