Nokia ( NOK) shares were enjoying a strong day, gaining 18% to reach $4.43 on the back of strong Lumia sales. Nokia said it sold 4.4 million units of the Lumia, -- up from 2.9 million in the previous quarter. However, the Finnish company also noted that seasonality and increased competition will negatively affect its handset division, when compared to the final three months of last year.
Apple ( AAPL) shares were little changed, after having been up more than 2% earlier in the session. News came that CEO Tim Cook met with China Mobile ( CHL) Chairman Xi Guohua to discuss "matters of cooperation." Apple has noted on several occasions that China is an exceptionally important market for the company, and signing a deal with China Mobile would bolster its presence in the country. China Mobile is the largest cell-phone carrier in the world, with more than 700 million subscribers. There are also rumors suggesting that Apple may make a cheaper iPhone, trying to expand into the sub-$400 smartphone market to capture market share.
The Close: Facebook ends at $31.30, up 71 cents or 2.32%; Apple ends at $523.51, up $6.41 or 1.24% and Nokia lands on $4.45, up 70 cents or 18.67%. Interested in more on Apple? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull