New Nokia Phones Target CDMA Market, Report Says

Whoops. In a mailing slip-up, Nokia(NOK - Cramer's Take - Stockpickr) reportedly announced the release of five new phones geared toward North American customers.

The world's largest handset manufacturer inadvertently mailed a press release to Finnish financial analysts, saying it plans to launch five phones using code division multiple access, or CDMA, technology, according to a Dow Jones Newswires report. The phones are expected to be officially announced at next week's annual wireless confab, the CTIA show, in New Orleans.

Nokia couldn't be reached for immediate comment.

Although Nokia is the leading handset manufacturer worldwide -- accounting for 40% of all phone sales -- the company is playing catch-up to other companies in the CDMA handset arena.

CDMA technology is the prevailing wireless standard in the U.S., used by the country's largest wireless carriers, Verizon Wireless and Sprint PCS(PCS - Cramer's Take - Stockpickr).

Analysts said that in the past Nokia and Motorola(NOK - Cramer's Take - Stockpickr) have tried developing their own CDMA chipsets, but their efforts were considered technologically inferior. Motorola currently purchases chips from Qualcomm for its CDMA handsets.

Nokia American depositary receipts rose 61 cents, or 4.6%, to $14.02 in a market-wide rally Thursday.