The update for a still distant future in smartphones came Wednesday, during Nokia's analyst day presentation in Espoo, Finland. Nokia offered its outlook for 2010, which was broadly in line with expectations calling for 10% mobile phone industry growth and a hopeful promise to reverse what's been a steady erosion of market share.
Nokia however revealed that it is stuck in a painfully awkward position in its smartphone evolution. This news coincides with the debut of Google's (GOOG) Android software, which arrived with a big splash on phones like the Motorola (MOT) Droid.
Acknowledging some shortcomings with its current crop of top-shelf phones, Nokia says it is now re-engineering its aging Symbian operating system to improve the user interface. Translation: Symbian stays on life support leaving the crowd still yearning for something new."They were surprisingly aggressive in their defense of Symbian, bluntly rejecting Symbian criticism," says MKM Partners analyst Tero Kuittinen, who monitored the presentation. Meanwhile, the long-awaited something new, Maemo 5, only now hits the market with the introduction of Nokia's $569 N900 phone. Nokia's Maemo software is designed to bring a laptop-like computer performance to a palm-sized phone.
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 + 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