Nokia, Verizon Plan Exclusive 4G Device
Burned by AT&T (T) and Apple's (AAPL) exclusive deal with the popular iPhone, Nokia and Verizon are determined to lead the next stage of wireless technology through what probably will be an exclusive partnership, say people familiar with the companies.
The pact would be a huge restart for Nokia in the U.S., where it has seen its market share all but vanish. And for Verizon, the Nokia device would help it trump AT&T's iPhone by giving it a special product designed to take advantage of its new high-speed network and enable services like HD video.
The move would mark a significant departure for Nokia, which has resisted efforts by U.S. telcos to control the features on its phones. The lack of cooperation has caused Nokia, the world's largest smartphone maker, to miss out on the high-end gadget boom here in the U.S.For Verizon, Nokia represents a capable technology partner that could help fashion a device that delivers a next generation of media and data services. Verizon told a gathering at a recent trade show that it plans to get its LTE network started earlier than originally planned, largely in an effort to get a one- or two-year jump on AT&T's upgrade. "They want to get back in the leadership role," says Telecom Pragmatics analyst Sam Greenholtz, referring to Nokia and Verizon's newfound common interest. "My guess is that Verizon will insist that this be an exclusive," says Greenholtz.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV