Did Apple's announcement help Nokia buy time?
Just over one week ago as Nokia took to the stage to announce their new Windows Phone 8 devices, their stock value dropped 16% in a single day upon the news. To many of us, this was confusing if only because the devices themselves really seemed great—but the problem was (and still is) the uncertainty created by not announcing price and availability.
We had an excellent analysis of the situation by our own Chris Umiastowski and noted how this was probably temporary and not warranted.
Since that time, Nokia’s stock has slowly climbed back up but there was another hurdle in the distance: Apple’s iPhone 5 announcement. The anticipation was if Apple announced something truly groundbreaking—revolutionary instead of evolutionary—it would further damage perception of Nokia to investors. The iPhone 5 is already one of the top selling phones in the world and it just got way better? That’s bad if you’re betting on Nokia.