NEW YORK (
form a global email and mapping alliance; investors yawn.
The top phone maker and the No. 1 email service provider said they will join forces in a range of mobile services. As an indication of the sweeping power of this allegiance, Nokia's Ovi
mapping service will carry the tagline "powered by Ovi" And similarly, Yahoo's popular email will be available on Nokia phones with a tag line "powered by Yahoo!."
The full fruits of this magic-making partnership will arrive next year, the companies said.
Yahoo! CEO Carol Bartz and Nokia CEO Olli-Pekka Kallasvuo announced Monday a global strategic alliance to extend the reach of their online services to millions of consumers.
Nokia shares fell 1% after the press announcement with Yahoo! and hovered below $10 -- not far from the one-year low of $9.73 reached last week.
Yahoo! chief Carol Bartz highlighted the international opportunity for the two companies saying on
that the "first app that people use is chat." And Nokia chief Olli-Pekka Kallasvuo emphasized the scale the two companies bring to the partnership. We're "combining the massive PC market that Yahoo! has with the massive market that Nokia has," Kallasvuo said on
Clearly the pact is intended to put Nokia and Yahoo! in a position to defend against the sweeping popularity of
Android phones. The touchscreen designs and mobile software advances brought by Apple and Google have helped create a divide between success of some shops and struggles of others in the smartphone powered mobile market.
to get investors excited.
--Written by Scott Moritz in New York.