Nokia Gets Ringing Endorsement

Nokia (NOK Quote) keeps nailing it overseas, rolling out three new music phones and a Web site to sell songs and games.

Shares of the big wireless phone company rose Wednesday after Nokia unveiled the latest additions to its handset lineup. But rivals like Apple (AAPL Quote) and Research In Motion (RIMM Quote) cheered Nokia's announcement as well.

The glee, say observers, stems from the limited impact the new phones will have on holiday sales here as Nokia, the No. 1 phone maker, continues to struggle in the U.S. market.

Nokia did introduce a new version of its N95 multimedia phone with an expanded 8 gigabits of memory. But the much-heralded $699 device has yet to find a U.S. telco partner to assist with sales. ...