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Nokia Said to Delay 'Phablet' Until October

NEW YORK (TheStreet) - Nokia  (NOK - Get Report) says we should expect an announcement some time next month that will "reinvent innovation." Strong words. The Finland technology innovator alerted journalists the world over, via Twitter of course, to set aside October 22nd for a very special announcement...

We'll be waiting.

Until then, information has been leaking through the usual sources about a possible late-September introduction for Nokia's Lumia 1520 - a smartphone with a 6-inch screen running on an upgraded version (8.1) of Microsoft's  (MSFT - Get Report) Windows Phone operating system.

According to ReutersNokia had been rumored to be planning a release of the new device sometime this month. But the Microsoft-Nokia deal announced last week delayed the super-sized phone's introduction. Nokia shares traded in New York were rising 1.2% to $6.20 on Tuesday while and Microsoft shares were gaining 0.9% to $33.11 after announcing a share buyback program of as large as $40 billion.

For the short-term, Nokia and Microsoft are still being operated as separate companies,  though their $7.2 billion deal is expected to close "around the first quarter of 2014".

And Microsoft is still hosting its own big event in New York, next week. It is rumored that second-generation Surface Pro and Surface RT tablets (running second-generations Windows 8.1 and Windows RT 8.1 software) will be announced be the start of that event. It is also possible another Nokia product - a tablet code named "Sirius" running Windows RT - may also make an appearance.

None of this will  "reinvent innovation." For that, Nokia has asked us to wait until October.

Written by Gary Krakow in New York

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