Nokia has got some positivity building around itself after 4 million Lumia sales beating estimates and Featurephones doing well. After the share prices hitting a bottom low of 15-years last to last week, the stock has rebounded quite well and is up 44% this week. It is also nice to see publications like “Forbes” recognizing and expressing happiness over this. We can just hope that this momentum gets more and more built up with impending launch of WP8 devices and sales of Asha devices and 808 PureView this Quarter. Read more from Forbes below.
It’s hard to know why Nokia is zooming but we are glad that it is. Nokia did sell more phones in the June quarter than some had expected. They slashed prics at the end of the quarter to clear out the Lumia 900′s which while on the MSFT Windows 8 OS will not work on the new Mobile Windows platform coming out near the end of the year. There are rumors that Nokia will be taken out. Those come and go. There is the issue of the short squeeze. There was an announcement that a few insiders bought more shares for themselves. And the option plan was reinvigorated to encourage those under the very top tier of employees to stay and work hard.
For the moment, this was the week to own Nokia and not Apple. That 44% gain is hard to ignore. Of course it is the law of small numbers vs. the law of large ones. But it’s nice just the same.