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) 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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