Nokia gets unexpected vote of confidence

Nokia gets unexpected vote of confidence

So far it's safe to say that 2011 won't go down as one of Nokia's most successful years in history. But there's still time for that to change, and Nokia's just had a bit of good news to lighten its mood – a little.

It may be a case of damning with faint praise, but analyst firm RBC Capital Markets says things aren't quite as “dire” as it originally thought.

Nokia has been largely treading water since announcing in February that it was dropping MeeGo and phasing out Symbian from its smartphone range in favour of a move to Microsoft's Windows Phone.

With that now public knowledge, sales of Nokia's Symbian phones have predictably taken a hit, despite Nokia working hard to try and keep interest going through software updates and new handsets – most recently the launch of three new devices and the Symbian Belle update last week.

And it seems that its efforts are paying off – for one analyst anyway. RBC Capital Markets' Mark Sue repeated his “Outperform” rating on Nokia stock in a note to investors on Friday, and increased his Q3 shipping estimate from 89 million units to 100 million, predicting less of a dropoff in sales than previously expected.

“Nokia may be seeing better trends for its dual-SIM devices and less of a decline in its traditional Symbian devices than originally expected,” Sue wrote.

“Feedback on Nokia’s new Windows device may be encouraging and we expect Nokia to launch on schedule before the holiday season.”

Via BGR

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3 comments

blizzard7  Aug. 29, 2011 at 17:00

Nokia really need to get their skates on. Hurry up and at least announce the specs for Sea Ray.

Betas  Aug. 30, 2011 at 11:56

forget searay, we want the n9!

blizzard7  Aug. 30, 2011 at 13:13

@Betas
Problem is that's not exactly a realistic demand given Nokia's current direction :p

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