Shares of Nokia Corporation (ADR)(NYSE:NOK) faded
over 5% on Tuesday to $3.09 after surging over 5.50% in yesterday’s session. In
fact, the stock had gained over 50% in the past one month as of yesterday
closing.
Yesterday, the landmark patent ruling of Apple
Inc. against Samsung Electronics Co. which spanned across four continents has
triggered up the share prices of Nokia Corp. The probability of the company to
grab this opportunity has made the movement in the share prices of the company.
Get Free Trend Analysis on NOK Here
The shares of the Nokia Corp. have witnessed a
rise of 7% on the session. U.S.-listed shares rose an equal amount. With news
spreading like fire of the victory of Apple Inc. against its South Korean rival
for infringing on the features of the iPhone handset and the iPad tablet,
shares of Samsung Electronics Co. have suffered a 7.5% drop in Asian trading on
Monday, wiping more than $12 billion off its market capitalization. On the
other side, the shares of Apple Inc. move up by 2.1% in early Wall Street
trading.
Samsung shares slump after Apple patent ruling,
giving an edge to Nokia who has the potential to change the competitive
landscape though for short to medium term. “Nokia has been struggling to get
their smartphone foothold as Apple and Samsung dominate the market with HTC
Corp. TW: 2498 -1.90% as a runner-up,” said Peter Bo Kiaer, strategy and equity
analyst at Saxo Bank, in emailed responses to questions.
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