Smartphone Wrap: Nokia (NOK), Apple's iPhone (AAPL) and BlackBerry (BBRY)

NEW YORK (TheStreet) -- Six new Nokia (NOK) devices are rumored to be released during the company's Innovation Reinvented event in Abu Dhabi next month, reports The Verge.

Two of those will likely be new models in the Lumia range. The six-inch Lumia 1520 was expected to have a September launch date but was delayed on Microsoft's (MSFT) pending purchase of Nokia's mobile arm. Nokia's Lumia 1020 launched in India on Thursday and will be available to purchase from Oct. 11.

Nokia shares closed 0.15% higher to $6.64 while Microsoft was up 0.82% to $32.77.

TheStreet Ratings team rates Nokia as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate Nokia a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, solid stock price performance and expanding profit margins. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall."

Rumors continue to swirl around Apple  (AAPL) , as a leaked China Mobile  (CHL) advertisement indicates the carrier could begin selling the iPhone 5s and 5c as early as November. Apple's market share in China declined from 9% to 5% in the most recent quarter and a partnership with one of the largest wireless carriers could prove fruitful.

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