"/>
This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Nokia N8 Rhymes With Late

Stocks in this article: NOK AAPL GOOG RIMM MOT

Updated since 9:14 am EDT with Nokia share price.

NEW YORK, ( TheStreet) -- Nokia (NOK - Get Report) unveiled the N8 Tuesday, its boldest effort yet to catch up with Apple's (AAPL - Get Report) iPhone.

Three years and a dozen market-share points late, Nokia has introduced a thin touch-screen phone that will be available in select markets -- read maybe the U.S. in the third quarter.

The standout features include a 12-megapixel camera with high-def video, free Navteq-powered navigation and 16 gigabytes of memory. The N8's 3.5-inch screen and a half-inch thickness is roughly the same as the iPhone.

The N8 is the first phone to use Nokia's Symbian 3 operating system, which promises to heat up the legal battles, because it uses multitouch controls like pinch and finger-spread zoom. This is one of the technologies popularized by Apple's iPhone and at the core of Apple's patent infringement lawsuits against Nokia and more recently HTC. Nokia started the patent fight last year accusing Apple of infringement on some of its wireless technology.

The Next Crisis For Customer Satisfaction (Forbes)

Nokia has been struggling to develop a touch-screen phone that could help it compete with the likes of Apple and an expanding roster of Google (GOOG) Android-powered phones made by Motorola (MOT) and HTC.

Nokia has managed to remain the top smartphone maker globally, but it has lost a lot of turf to rivals like Research In Motion (RIMM) and Apple.

>> Who Owns Nokia?: Karen Finerman

The N8 is aimed directly at Apple and the touch-screen trend.

One of the biggest challenges, beyond phone design, is finding support among U.S. phone companies to sell the phones. Telco subsidies cover as much as $300 of the customer's cost of the phone. In the exchange, the telco gets subscribers locked into two-year service contracts.

In recent years, Nokia's promise of a new generation of touch-screen phones has been a disappointment. The N8's arrival hopes to deliver on that promise and get Nokia back in the game.

Nokia shares continued their week-long 18% slide, falling 2% in midday trading Tuesday.

--Written by Scott Moritz in New York.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

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