This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Technology Rumor of the Day: Nokia

Nokia's (NOK) going nutty for netbooks.

Nokia, the No. 1 mobile phone maker, has sealed its plans to enter the netbook race, according to people familiar with the company.

Some if not all of the production of the new mini-PCs will be handled by one of Nokia's original device manufacturing partners, Taiwan's Foxconn, these people say.

The news comes as Foxconn closes in on a deal to lease the former Nokia manufacturing facility in Fort Worth, Texas, according to a report in the Star-Telegram. Foxconn is one of the world's leading notebook contract manufacturers.

Nokia hinted in February that it was at the crossroads of mobile phones and PCs and that it was "looking very actively" at making netbooks.

Skeptics figured the move would get Nokia tangled in an expensive race to the bottom against lower-cost manufacturers like Asus and Acer. But netbooks seem to be an irresistible opportunity for PC makers. Hewlett-Packard (HPQ), Dell (DELL) and even Apple (AAPL) are expected to fashion devices for the bargain-hungry netbook crowd.

Nokia's partnership with Foxconn would help shield the Finnish phone shop from some of the high costs of developing and making an entirely new product. Foxconn could also begin production more quickly than if Nokia took on the challenge alone.

Nokia originally struck a deal with Foxconn a few years ago when it needed a manufacturer to build phones for Verizon (VZ). This is a particularly juicy aspect to the speculation since Foxconn licenses wireless technology from Qualcomm (QCOM).

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,915.05 -45.52 -0.27%
S&P 500 1,969.40 -8.94 -0.45%
NASDAQ 4,418.8130 -30.7510 -0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs