Nokia jumps on hopes it can cash in on Samsung setback

27 August 2012 10:18 am - 0 - {{hitsCtrl.values.hits}}

A A A

Shares in mobile phone firm Nokia leapt 10 percent on Monday on hopes it can benefit from a setback to rival Samsung, which has lost a high-profile court case to Apple that could lead to an injunction against some of its products.

A U.S. jury found South Korea's Samsung Electronics copied critical features of Apple's hugely popular iPhone and iPad and awarded the U.S. company $1.05 billion in damages.

"In addition to Apple, we name Microsoft and Nokia as the main beneficiaries from this outcome," said Nordea analyst Sami Sarkamies.

Shares in Nokia were 10.2 percent higher at 2.746 euros by 0835 GMT. Microsoft's European-listed shares were 1.6 percent higher.

Nokia and its software partner Microsoft have been struggling to win ground from Samsung's Android-powered smartphones which lead the market.

Google's Android is used in around 65 percent of smartphones sold globally, with Samsung the biggest maker of Android phones.

Nokia has been fighting for survival after losing vast ground to Apple and Samsung. In 2011 it forged a software alliance with Microsoft, which had also fallen behind in smartphone software.

Nokia is now the largest maker of Windows Phones, but the market share of the software has stayed at below 5 percent.

"We think that the real winner hear will be Microsoft and the Windows Phone ecosystem," Nomura analysts said in a note.

"As Android and Apple tear each other apart, Microsoft has been waiting in the wings and is in a very good position to move in and entice users to switch from Android to Microsoft, as we have already seen that user loyalty is low," they said.

Nokia is expected to launch its first smartphones using a new version of Windows Phone software at an industry event in early September.

(Reporting by Tarmo Virki; Editing by David Holmes and Mark Potter)

(Source : Reuters)

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 0

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Nokia jumps on hopes it can cash in on Samsung setback

Comments - 0

Add comment

RECOMMENDED

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Western purple-faced langurs see blue!

Most Viewed in News

Suspicious death of 23-year-old woman at hotel sparks concerns

23 year old youth ends up having his testicles removed

A US “Kaputa”, a Lankan “Nariya” and a Presidential “Feast”

April 15 declared a government holiday

New Visa procedure implemented

Confusion remains if April 15 is a bank holiday

MIRROR CRICKET

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings

Chamodi, Dewmi spins Sri Lanka U19 Women to big win

Amir, Wasim return to Pakistan national team

TODAY'S HEADLINES

100 Police personnel trained to target criminals operating on motorbikes

Catholic Church receives full report

Complaint lodged over Piumi Hansamali’s possession of Gota’s Range Rover

We are struggling with severe shortage of staff – Excise Chief

Mendis, Mathews move up in ICC Test Rankings

Security raised for Champions League ties after threat

SLA target four events at Paris Olympic Games

Chamodi, Dewmi spins Sri Lanka U19 Women to big win