Editor’s Note: Related Tickers: Siemens AG (ADR) (NYSE:SI), Intel Corporation (NASDAQ:INTC), Nokia Corporation (ADR) (NYSE:NOK)
Samsung opens new R&D facility in Nokia’s backyard (IT Business Net)
Mobile phone maker Samsung Electronics is set to open a new research and development center in Nokia Corporation (ADR) (NYSE:NOK)’s home town on Thursday, highlighting the Korean company’s ascendancy over its once dominant Finnish rival. Samsung’s newest R&D facility, its first in the Nordic region, is located in Espoo, Finland, where Nokia has its headquarters. Details on staffing and investment plans are due to be unveiled later in the day. The move follows the opening of R&D facilities in Finland by other technology firms including Huawei and Intel Corporation (NASDAQ:INTC), which have sought to take advantage of the country’s high concentration of engineers and software developers – many of whom previously worked at Nokia or its related businesses.
Nokia Corporation (ADR) (NYSE:NOK) has sent out invites for an event on July 11 in New York. From the invite it appears that the company will announces its much awaited camera-focussed smartphone at this event. The invite features a big magnifying glass along with the words “zoom reinvented”. Apart from this, the invites gives no hint of what the company may unveil at this event. The Finnish smartphone giant has been rumoured to be working on a smartphone running on Windows Phone 8 that will pack in a 41-megapixel camera sensor, similar to the Nokia 808 PureView. This smartphone is said to be codenamed EOS. However, Nokia on its part has not confirmed that this smartphone is in the works and if it would indeed have a 41-megapixel camera sensor.
The end of Symbian: Nokia ships last handset with the mobile OS (PCWorld)
This week, Finnish smartphone creator Nokia announced that it had shipped its final handset running the Symbian operating system. As the last company in the world building phones using the Symbian OS, Nokia Corporation (ADR) (NYSE:NOK)’s withdrawal from the platform means Symbian is now completely defunct. Symbian’s fall from dominance is a tale about which books can (and should) be written. Its origins date to the ’80s, but as of 1998, Symbian’s existence was formalized when an old PDA company, Psion, changed its name to Symbian and took funding from the major phone manufacturers at the time, including Ericsson and Motorola, to become the official caretaker of the rising mobile OS.
Oppenheimer Initiates Coverage on Nokia (NOK) (Ticker Report)
Oppenheimer began coverage on shares of Nokia Corporation (ADR) (NYSE:NOK) in a report released on Wednesday, AnalystRatingsNetwork.com reports. The firm issued an overweight rating and a $57.00 price objective on the stock. Shares of Nokia traded up 4.42% during mid-day trading on Wednesday, hitting $3.6862. Nokia Corporation (ADR) (NYSE:NOK) has a 52 week low of $1.63 and a 52 week high of $4.90. The stock’s 50-day moving average is currently $3.. The company’s market cap is $13.684 billion. Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a sell rating on shares of Nokia in a research note to investors on Friday, May 24th.
Siemens Tests Waters for Network Venture Deal (Techzone360)
Siemens AG (ADR) (NYSE:SI), German’s multinational engineering and electronics conglomerate is looking into whether private-equity firms are interested in buying out its telecommunications-equipment joint venture with Nokia Corporation (ADR) (NYSE:NOK). This is according to the Wall Street Journal. The joint venture is between Siemens Communications division and Nokia’s Network Business Group. The formation of the company was publicly announced on June 19, 2006. The German company’s 50 percent share of Nokia Siemens Networks (NSN) could be worth more than $9.36 billion, including debt. According to sources that are familiar with this matter, Nokia Corporation (ADR) (NYSE:NOK) is exploring a possible buyout of its 50/50 German partner. It seems that both parties are looking to make a split.
