NEW YORK (TheStreet) -- Shares of Nokia Corp. (NOK) are higher by 3.39% to $7.93 in mid-morning trading on Tuesday, after the company unveiled a new iPad-like licensed tablet, designed to boost its brand and rival Apple's (AAPL) signature tablet, Reuters reports.
The N1 tablet will run on Google's (GOOGL) Android Lollipop operating software, and will feature Nokia's new Z Launcher intelligent home screen interface, Reuters added.
Nokia's tablet is due to hit stores in China during the first quarter of next year, with an estimated price of $249, sales in other markets will then follow, Reuters said.
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Nokia's tablet comes six months after the Finnish company sold its phones and devices business to Microsoft (MSFT) for over $7 billion, according to Reuters.
Separately, TheStreet Ratings team rates NOKIA CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate NOKIA CORP (NOK) 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 impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. However, as a counter to these strengths, we find that the stock has experienced relatively poor performance when compared with the S&P 500 during the past year."