Still Bullish on Nokia (at Seeking Alpha)

by: Sramana Mitra posted on: July 22, 2008 | about stocks: NOK On July 17, Nokia Corporation posted strong Q2 results that topped analyst estimates, driven by 21% growth in mobile device sales to 122 million units, an average of 1.35 million units per day. In the converged mobile device section, sales grew 10% to 15.3 million units, much more than the iPhone’s target for the year. But then, Nokia is the giant here with a 45.2% smartphone market share, and Apple only has 5.3% of the pie. In addition, with Nokia’s touch screen device, Tube, expected to reach the market later this year, the convergence device race is heating up further. My earlier post on Nokia’s convergence device strategy is available here. Nokia, which had a 48% stake in the handset software firm Symbian, recently spent $410 million to buy the rest of the... [read full story]