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Nokia Stuck in a Range as Its Lumia 930 Smartphone Hits the Market

Correction: This story corrects in the fifth and sixth paragraph to clarify that Microsoft owns Nokia's phones and that the impact of Lumia 930 on Nokia will be nil.

NEW YORK (TheStreet) -- Nokia (NOK - Get Report) continues to trade in a range as its Lumia 930 smartphone launches in Europe, Asia and the Middle East this week.

Nokia's share price has been stuck between $6.50 and $8.00 since last November, but has traded near its highs on the year in recent sessions.

Much of the excitement around the company revolves around the launch of the Lumia 930 smartphone, which is touted as its best Microsoft (MSFT) phone to date.

Last September, Microsoft purchased Nokia's Devices & Services business, and has used that partnership to establish a presence in the smartphone market.

Now that Microsoft owns Nokia's phones, I have seen dueling positions on whether the release of its Lumia 930 will impact its share price. The issue is that Microsoft has rights to use the Nokia name on handsets it produces for a set period, and Microsoft is phasing out the Nokia brand, but there is chatter discussing Nokia's stock price as it relates to and the Lumia 930 release. Ignore it.

Without seeing the details of the deal, I believe the phone will have no impact on Nokia's trading range. Microsoft will be the sole benefactor. A phone call to Microsoft wasn't immediately returned.

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Lumia 930 runs Windows 8.1 software, has a 20-megapixel PureView camera, and a crystal clear five-inch Corning AA® Gorilla AA® Glass 3 screen. Its starting retail price will be $599, according to Nokia's blog.

The upgraded Lumia smartphone hopes to compete directly against Apple's (AAPL) iPhone and Samsung Electronics' (SSNLF) Galaxy smartphone, which runs Google (GOOGL) Android software.

Both the exterior and internal improvements to Nokia's Lumia smartphone brand should appeal to consumers. The company said in a press release that on top of this week's launch, the Lumia 930 would launch in the U.K. on July 17, and that there has been no planned launch in the U.S. just yet.

NOK Chart
NOK data by YCharts

At the time of publication, the author had no position in any of the funds mentioned.

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This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

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