While the world has been waiting for Nokia’s Windows Phone 7-based smartphones, Nokia Corporation (NOK), the world’s largest mobile phone maker, now stuns everyone by launching two new Symbian-based smartphone handsets, E6 and X7.
Both the handsets E6 and X7 will costs around $ 491.6 and $ 549.5, respectively. The new handsets are powered by the latest Symbian operating system called “Anna."
The new updated symbian operating system features new icons, improved text inputs, faster Internet browsing facility along with upgraded Ovi Maps and Ovi applications store. The newly shipped Nokia N8, Nokia E7, Nokia C7 and Nokia C6-01 devices boast the updated Symbian operating system “Anna” and the system can also be downloaded on the previous models of the above mentioned handsets.
Earlier, Nokia took a historic decision to adopt Windows 7 software for all its forthcoming smartphones, thereby sidelining its own less user-friendly operating system Symbian and the much-hyped Linux-based MeeGo software. But the company surprised everyone by reverting back to the Symbian operating system.
Nokia faces stiff competition from Google Inc’s (GOOG) Android-based smartphones and Apple Inc’s (AAPL) iPhones. Moreover, with the popularity of tablets, which Nokia lacks in its product portfolio, will hurt profitability in the long run.
Nokia desperately needs a smartphone to outperform the broader mobile phone market. Nokia has thus teamed up with Microsoft Corporation (MSFT) to install Windows Phone 7 software into their mobile phones, as an attempt to retain its market share.
However, we do not expect any Windows 7-based smartphone before the end of 2011. Further, we expect Nokia to gradually lose market share since we do not find any product in Nokia’s existing portfolio, which is unique in the market.
We, thus, maiantain our long-term Neutral recommendation for Nokia. Currently, Nokia has a Zacks#4 Rank, implying a short-term Sell rating on the stock.
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