Nokia Corporation (NYSE:NOK) Hits 3-Month On Optimsim of Upcoming Smartphones in September

When it rains, it pours. It’s not one but two phones that Nokia Corporation (NYSE:NOK) is planning to release on September 5, at its joint media event with Microsoft Corporation (NASDAQ:MSFT).

Both the phones will be running on Windows 8 operating system, according to a report. It may be recalled Nokia has issued invitations for a media event jointly with Microsoft.

There are high expectations that the Finnish handset maker will be unveiling its new smartphone then.

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According to reports the pioneering mobile handset company is working on an "Arrow" handset and a "Phi" handset, which are the codenames for the devices. Following Nokia’s usual custom, there will be a high-end phone and a mid-range phone to cater to different segments.

Incidentally in the first of such details to emerge, it is reported that both the phones are part of the Lumia series, the existing versions of which run on Windows Mango system.

Nokia already has an alliance with network services provider AT&T for selling its phones as a bundled offering. In addition, according to reports, America’s largest phone company Verizon has also expressed interest in offering Nokia’s smartphones with Windows operating system. This marks the coming together of Verizon and Microsoft after more than a year since May 2011.

AT&T will stock Nokia's Phi handset initially which is the successor to the Lumia 800 and 900 range, complete with the typical polycarbonate body.

The Arrow Windows Phone 8 handset is a mid-range phone that will be available on AT&T and T-Mobile in the US. An variant of this, codenamed Atlas, is what Verizon will be selling but this is expected to be announced later and is not part of the media event.

Can NOK Continue To Move Higher? Get Free Trend Analysis

Shares of NOK jumped for the fifth straight session and gained 7.30% to $3.09, its highest price since mid May. The stock has gained 12% in the past one week and recovered about 90% from its decade low of $1.63 in mid July.

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