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What to think about Nokia after yesterday’s 16% stock price collapse
Yesterday, Nokia CEO Stephen Elop took the stage to unveil two important new Lumia phones powered by Microsoft’s new Windows Phone 8 OS. Despite positive reviews of the hardware, the stock collapsed by 16%.
What does all this mean? Why did the stock collapse and what does it mean for the future of Nokia and Windows Phone? Is there a real message here, or is this simply panic and depression on the part of investors?
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Nokia’s price drop of the Lumia 900 was not a sign of weak sales, the media has it wrong
Although we cheered at Nokia dropping the price of the AT&T Lumia 900 a few days ago, many detractors in the tech media looked for a negative angle to the story, resulting in some damning headlines this past week.
What was the other tale they were spinning? That the Lumia 900 must not be doing well—after all, why would Nokia (and AT&T) cut the price “so soon” after launch? Forgetting the fact that “so soon” is exactly 3 months or we’ve seen price drops after launches before. That didn’t stop various media outlets like this example which boasts
“Finnish phone maker Nokia has been forced to cut the price of its Lumia 900 by half, just weeks after launching it”.
Forced? Just weeks? That story went over the ANI wire to a lot of news outlets. One problem though: they were wrong.
Read more after the break..
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