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What to think about Nokia after yesterday’s 16% stock price collapse

Yesterday, Nokia CEO Stephen Elop took the stage to unveil two important new Lumia phones powered by Microsoft’s new Windows Phone 8 OS.  Despite positive reviews of the hardware, the stock collapsed by 16%.  

What does all this mean?  Why did the stock collapse and what does it mean for the future of Nokia and Windows Phone?  Is there a real message here, or is this simply panic and depression on the part of investors?

Let’s start by looking at what Nokia actually announced.  Two new Lumia phones, the 920 and 820, will hit the market in Q4.  All the attention was on the 920 because Nokia needed to prove it can come up with a high end smartphone.  To their credit, Nokia delivered the goods.  It’s jam packed with an amazing display, PureView camera and other industry leading specs.  

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That said, it looks to me like Nokia botched the presentation by allowing Wall Street to feel uncertain about so many important things.  Where exactly will the device be released?  We don’t know anything more than “select markets”.  What carriers have agreed to carry it?  Sorry.  Don’t know.  What’s it gonna cost?  Oh.  Nokia didn’t say.  On top of this, the general consensus is that Nokia’s executive team just didn’t deliver a compelling presentation.  

Elop stood on stage talking about how Nokia is “doing work” on important areas such as radio performance, battery life, blah, blah blah.  I’m sorry Steve, but when you waste time talking about vague research ideas in front of an audience hungry for new products, you lose them.  People stop caring.  

In short, Nokia is to blame for the 16% stock price drop yesterday.  Yes, they delivered great new products.  But they failed to alleviate the uncertainty Wall Street investors worry about.  

 

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Looking at Nokia stock out longer term

I’ve seen my share of stocks tank as an equity analyst over the last decade.  Quite often, huge stock movements are driven by emotion.  I think yesterday’s crash by Nokia fits that description perfectly.  Wall Street hates uncertainty, and yesterday’s announcement only told us what we already know:  Nokia can make good phones.  

We still don’t know much about the future success of Windows Phone as a mobile ecosystem, what kind of support game and app developers will show towards Microsoft (and hence Nokia).  We don’t know what Microsoft’s true plans are to compete with its hardware partners (remember they’re making their own tablet?)

And Nokia still has a revenue base that comes almost entirely from what I call “dumb phones”.  Symbian is on a path towards zero.  It’s not like this legacy OS will die tomorrow, but ask yourself if we’ll still see Symbian phones in 10 years.  I don’t think so.  

Nokia has to shift from a company that sells about a million non-Windows phones per day into a success built upon Microsoft.  Either they succeed at this, or they have very little future.

I think yesterday’s announcements were pretty solid.  In the long term, I think they suggest that Nokia has a slightly better chance, rather than what the market implies through the 16% stock price drop.  But remember that Wall Street is driven by short term emotional thinking.  In the long term, Nokia is a story that lives or dies based upon Microsoft’s success in mobile.

 

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A quick look at Nokia fundamentals

Nokia brought in $42.5 billion in revenue over the last four quarters.  They are losing money right now, but through cost cutting (restructuring), they hope to get back to profitability.  The entire company is worth $9 billion based on its current stock price of about $2.44 (as I write this) but the enterprise value (adding in debt, subtracting cash) is only $3.2 billion.  In other words, Wall Street values Nokia’s actual business as being worth $3.2 billion.

With a stock price of $2.44 and a book value of $3.54 per share, you’d think Nokia might be undervalued, right?  Not necessarily.  A large chunk of this book value comes from intangible assets such as goodwill, which is generated when one company acquires another at a price higher than its own book value.  This is very common, and happened when Nokia bought Navteq for $8.1 billion.  But for purposes of valuing a stock, goodwill isn’t actually worth anything.  I think of it as a dummy asset required to balance the books.

All things considered, Nokia isn’t necessarily a bargain.  They have built up a huge organization and they’re going through incredible change.  This will continue for many years.  They’ll either continue to be relevant in the new world of smartphones, or they won’t.  

If you believe in Microsoft and Windows Phone 8, yesterday’s crash should come as welcome news.  It gives you a chance to buy Nokia for less.  But if you are skeptical of Nokia’s ability to stay relevant, or Microsoft’s ability to be a big player in mobile, then it doesn’t matter how far Nokia’s stock drops.  You don’t want to touch it.

(Chris Umiastowski is a contributing writer to the Mobile Nation network. You can see the rest of his posts here at AndroidCentraliMore and CrackBerry.)

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Comments

There are 183 comments. Sign in to comment

Tahiti Bob says:

What stock app is that in the picture?

joshcsmith13 says:

you're kidding, right?? 
 

venetasoft says:

Its a mockup hardware, ABSOLUTELY NORMAL for every sw and hw companies (like the one I work for) !!
Stupid exploitation by envious competitors and ignorant journalists ;)

namikral says:

use my stocks up, its much better

pbroy says:

Time to buy more stock, before it goes back up

MadDogFL62 says:

Time to buy more stock before MSFT acquires them.  When the Nokia stock was tanking a few months ago, Samsung started sniffing around.  MSFT was silent.  Both MSFT and Samsung have the jack to wipe Nokia out.  Either way, MSFT wins.  MSFT may be stalling to see if Sammy will take a headache off of thier hands.  If not, we may roll into the holidays with MSFT making both Windows 8 Tablets (Surface) and Windows 8 Phones (Lumia).  WP8 Surface Phone anyone?  http://www.concept-phones.com/microsoft/microsoft-surface-phone-features-hd-touchscreens/

jabtano says:

I bought nokia at $5-3-1.70 per share. today I sold a 10k block this is my reason all along all we hard was wp8..wp8 from Nokia all we got was a middle range device and one very nice high end device. which will only be going to you know where AT&T from an investors point not giving out a date or pricing but much fear in the Nokia holders camp. Knowing that the big device that everyone is hot over will only be on oneUS carrier. Yes apple can get away with that WP8 can not more so Nokia can not. they have to be out there and everywhere for them to come back. we Investors expected to see much more than what we saw and we expected to hear much more than we did.

Dethzilla says:

This is exactly what I was thinking... 

inteller says:

it fell on the 5th because Nokia released neither what carriers would have the phone nor what dates they would have them.
 
show investors how you will monetize your product and they will reward you with a stock bump.

Haxcid says:

While they did not list the carriers that will have it, their website shows the phone supports all networks. Here are the supported bands.

Bands

  • GSM 850
  • GSM 900
  • GSM 1800
  • GSM 1900
  • WCDMA Band V (850)
  • WCDMA Band VIII (900)
  • WCDMA Band II (1900)
  • WCDMA Band I (2100)
  • LTE 800
  • LTE 900
  • LTE 1800
  • LTE 2100
  • LTE 2600

http://www.nokia.com/global/products/phone/lumia920/specifications/

tbonenga says:

You're half right. The 920 is only heading to att. 820 for the rest of the carriers. As a T-Mobile customer NO THANKS. I might would've did a side by side with the ATIV and the 920. Even then I like the bigger screen, removable battery, sd micro slot and the aluminum look of the ATIV. I think the camera is gonna be better on the 920. With that I'm learning but not sold on the ATIV. I just HATE that I'm not gonna have a choice :(

sHAYM4N says:

Looks like stock has turned upwards a little today.  Agree with all that's been said here however.  The issue they have from a design point as well is marketing the device as truly something new when it looks so similar to the 900.
I think the bigger picture will be revealed only after Apples announcements on the iPhone 5.  Yep the sheep will buy into it as always, but investors will make there bets after the feature of Apples new phone are out of the bag.  Everyone expected huge leaps forward last year with the 4S and it never happened, who knows... maybe it will not be the massive update again that everyone is expecting.  iOS is a cash cow, but it's going stale.

Aldoron says:

Kinda like an apple turning brown. Its still edible, but do you really want to eat it? :)

tbonenga says:

Uh MANGO was suppose to be big too. It really wasn't. It just added some features that should've been there from the start. Unfortunately we're still behind. Hopefully APOLLO will bring us up to date.

astroXP says:

Not to mention about the fake PureView advertisement video, coud it get any worse?

Except it wasn't fake at all... it was an accusation based on an alleged reflection, and in the end Nokia came out and said it was a prototype design. Same technology, same functions, just different casing. Big whoop. The real problem is exactly what was said in the article... the overall sentiment is that Nokia didn't really reveal anything new in the "smartphone realm" just in the photography realm. The feature is killer, and it matters, but they obviously didn't "sell" the financial audience. They sold people like me who were already fans which is important but not what will make them a huge success again.

Gaichuke says:

Now where have you been?
They even issued an apology over the ad they made, since it wasn't filmed with 920!

johnvdwest says:

can't you read? It has exactly the same technology as the lumia 920 except it has a different body (hardware) which means it will work exactly the same as the phone!

xggamer says:

don't know why but the lady that introduced the Lumia 920 just broke the whole presentation, she was just soooo boring.
 

sHAYM4N says:

Agreed.  You can sorta get away with that kind of presentation for dev conferences, but when its for consumers it needs more.  Really should have looked into loaning Ben Rudolph or someone.

schlubadub says:

It wouldn't have hurt to get someone at least vaguely attractive either :P

MageSTYK says:

I'll say it again NOKIA, because you fucking up.
I have a Windows Phone and I'm on TMobile(With a Samsung Focus)

Nokia you need to get your head out of your ass and do these two things....

1. Nokia needs to do is sell their phones 'UNLOCKED' that's compatible with all carrier bands.

2. They need to offer various WP phone models. I'm a music listener, and I would freaking love to have a Nokia Phone with a Bad-Ass music chip dedicated for MUSIC.
If Nokia fails it's on them, not because of Microsoft, Carriers, the consumer, or the stock market.

Haxcid says:

http://www.nokia.com/global/products/phone/lumia920/specifications/

Check the supported bands. They appear to be supporting most if not all carriers.

That's fine but investors aren't gonna hunt down that info and assume that most carriers will pick it up.

MageSTYK says:

Tmobile(Edge only band) 3G is AwS 1700/2100, and the phone is not Unlocked.
 

TechAbstract says:

2nd that high end audio chip for music.

tbonenga says:

Wishful thinking. Seems Nokia's lips are firmly planted on att's butt. Seems to me the beta tester commercial is gonna bit them on the butt. All other phones were beta testers and the 900 was the real deal. Unfortunately the 900 was the beta for the 920. It's gonna take some major spin to right this ship.

sholokov says:

We all knew there would be an upgraded new phone next year. Even this 920 will be old technology next year. That doesn't mean it is a beta for next years' phone. Even the 0-60mph in 2.5 sec, $1.2 million Bugatti Veyron has a new model available this year for $2.2 million. Doesn't mean the $1.2 million one was a beta test. Why am I explaining the obvious?

peterfares says:

Because the 900 was released 5 months ago and is getting left to rot in a month. 

sholokov says:

It was just a commercial. Even the 99.9% germ removing soap increases their products performance by 20% a year. That's six sigma man ;)

tigermcm says:

IMO i wasnt too impressed. I was looking for design changes, a tab, something more the just a 900 and 800 with different innards, so the stock drop I can understand

OMG55 says:

Dude, how many ways can you change a square without stealing some else's design concepts??? As I stated yesterday in another blog, people didn't ask for major design changes. Overall, people love the lumia desing.They asked for the following and got it in the 920
1.  Curved display like the L800....Got it
2. Larger display....Got it 4.5"
3. Move USB port to bottom of device (Some people not all)....Got it
As long a people like you exist, nothing will ever be enough. Even Apple fans were disappointed last year when the 4S was released, yet they still upgraded or purchased the newest model despite their complaint initially. If the desing works for you, there's no need for major changes, only minor ones along with the latest iteration of the OS.
Why  don't you just revert back to a flip phone so your expectation won't be so high from a design standpoint.
 
 

procen says:

The problem  with some people is they like new design every time Nokia comes out with new phones, and you are right how many times can you changed a square design without running out of ideas. The Lumia 800, 900, and 920 are beautiful design.I'm just waiting for 920 for my upgrade.

tbonenga says:

People wanted a removable battery and micro sd slot. Where are they located on the 920? The 920 is a good phone no doubt. It's just a double. Sammy hit a homer with the ATIV.

OMG55 says:

While I am a first Gen Samsung focus owner who purchase an L900 and respect and love Samsung as well, I believe that if the two devices work sat on a table side by side, consumers would choose the Lumia 8 out of 10 times

tbonenga says:

did you just say 8 outta 10 would pick a phone with a smaller screen, no removable battery and a sd slot over a phone with a slightly better camera (water downed purview)? Dude you must be smoking that synthetic weed. Maybe Nokia might get 4-5 outta 10 but no more. Check the GS3 numbers. People can't get enough of them. I'm basing this on new customers coming to W8 not fan boys.

namikral says:

ruined with a thick and bezel friendly phone. they could of easily fitted 4.7 inches in that chassis like the one x.

tigermcm says:

you sound very angry lol. Let's be real about this. When feature phone were all the rave and smartphones were trying to make their entrance there were MANY designs for phones then. It wasn't until something called the iPhone came about that turned every phone into a rectangle.

erzhik says:

Disappointments of Nokia's event that led to the stock collapse:
 
1. Jo Harlow can't deliver exciting speeches, she needs to stay in her chair.
2. Stop talking about Asha devices when your main point is WP8. Nobody gives a crap about Asha during a WP event.
3. People want to see your new devices, so give it to them.
4. Kevin Shields can't present either. Doesn't look confident in his own product.
5. Give us prices and release dates. This is why I respect Apple, they immediately give dates and prices without any bullsh(t.
6. Make your devices available immediately for pre-order and general sale withing 2-3 weeks.
7. Get a bigger hall damn it. Presentation hall that is smaller than my classroom is pathetic.
8. Give the unveiling duties to Marko Ahtisaari. He knows how to present beautifully, remember the N9 presentation?
9. Again, put Jo and Kevin back into their chairs. THEY CANNOT PROVIDE THE EXCITEMENT DURING PRESENTATIONS.
 
P.S. I wanted to sleep while listening to Jo. And I wanted to slap my face when listening to Kevin.

mmoses1978 says:

I have to agree with you, it was very boring and had excitement. It felt like a lecture unread of a presentation where you are suppose to sell a product. I was trying my best to stay into it. That lady just suck the life out of the presentation.

chfhyh says:

cannot agree more.  the presentation sucked big time

Haxcid says:

Motorola's presentation made the Nokia presentation look like a bunch of fun loving hippies up on stage partying.

inteller says:

I think the problem is Jo has been staying in her chair too much. 
Kevin acted like he was having a nervous breakdown at times, awkwardly opening the bottle of water....that whole segment was painful to watch.
 
I used to like Joe Belfiore as a presenter but this time and the last really pissed me off when he tells you "we're not going to show this or that" 

astroXP says:

That's Microsoft's "fault", the guy won't risk to lose his job. Joe Belfiore is a great presenter nonetheless.

OMG55 says:

I agree with you that the presentation sucked, but the devices are good they do need to follow Apple's presentation protocol.

Yialun says:

Erzhik, 
 
First, +1
Then, I would like you to send your post to all Nokia's high executive staff (via email, twitter, filesharing, whatever), it is important to let them know. But be less hard with Jo, we don't want to hurt her, instead of saying "stay in your chair" write something like "improve your speech" etc. Nonetheless, please Erzhik and everybody here and out there, let's send them a real good message, 100 times if we have to, but we need to explain them before it gets worse than ever.

PrivateJoker says:

Totally agree with Erzhik - had the same thoughts yesterday!
 
And what did I do? I sold and went "short" in the moment of the presentation. No release date, no shipping date, no pre-order. COME ON! Kidding, right? Look at AMZ today. That's how a presentation should look like - even for investors. Just one question: How many phones Nokia is going to sell in Q3? Ha... that's gonna be a total disaster if they reveal their revenue/EPS.
 
Yialun: They only need to do some social media data mining (sentiment analysis) - and I'm shure they're doing this. If not? Nokia, call me please - we do have some great software ;)

uberlaff says:

Buy on the rumor, sell on the news. ;)

Coffee says:

that's def a lot of it, and should be considered.  Apple always falls after the announcement, because the weeks leading up to the shows it rises. 
Now, Nokia def took a larger hit than Apple does in terms of percentage, but I think that's due to Nokia's perceived vulnerability and very low price right now.
Stock is def an emotional thing for many, and it does provide uncertainty when release dates and prices aren't given out.  Hopefully they'll learn from it.
 
 

zacman says:

Just for Nokia it is sell on the rumor, sell on the news. Stocks is already down 50% for 2012 alone again. Next barrier now is 1,60€ and after that anything is possible.

sdreamer says:

Nokia just has to hang in there. The problem I think is their partnership with Microsoft. So far it has been very one sided, Nokia releasing and announcing all these things but being hampered by Microsoft and a couple of their own problems (like that video fiasco yesterday). It seems that Microsoft's driving point to developers is that "shared core" of Windows 8 and Windows Phone 8. However, the problem is, we as consumers, lead by the media, are still keeping the mobile and desktop experiences and expecations separate, therefore when analyst look at Nokia, they purely just look at Nokia, but not considering that Nokia is part of a giant thing that is happening with Microsoft that is going to allow Nokia to blossom. If you start to think about WP8 and WP7.5 by themselves, you will probably think they will never penetrate the market, but if you start to think about that "shared core" concept, that means, that Windows should carry WP8 as well since apps for Windows 8 can supposedly be easily ported to Windows Phone 8, thus allowing a ginormous advantage for developers and Microsoft, similar to what Apple did with the iPad and iPhone. Then you start to consider that WP8 won't tank, unless you believe Microsoft is going to let Windows 8 tank (which is still a possibility considering the backlash of a small portion of users not liking the ModernUI concept). So, I'm thinking, if Nokia can just last a bit longer until that wave comes, then they should be fine.

iggypop120 says:

They should have used a different number. 920 is still too close to 900. They will continue to get clowned on the Beta marketing

venetasoft says:

Stock are completely false and disconnected from reality.
Best choice is to do exactly the opposite, or not gamble at all :)
They only care about their interest, see S&P and Co, you Americans should know it very well...

Andygoes says:

So if Amazon announces in an hour or so that the new Kindle Fire does indeed have Nokia maps on board, what will happen to their stock?

Nokia and MSFT, display yesterday was very disappointing, I have both a Nokia and a dell with wp7. What I saw yesterday makes me more inclined to go back to Symbian phone. How do they expect to increase their decline market share with what was displayed yesterday? Show two phones which look similar to their current phones on the market. Not everyone wants to spend all day using their phone to take pictures. NFC, is not exclusive, so you can get that in other phones by the competitors, wireless charging also is not exclusive Duracell have had that years ago, so what is so special about these phones? Not much and by the stock price I am not alone in my view. The best thing to come out of Nokia in the last few years in my view is the n9 and 808. The lumia series sold about 7million compared to the galaxy s 3 sold 20 million in just two months. People at nokia should be worried if this is their best, I hear them calling the 920 their flagship phone, if this is so then it is time for nokia to be owned by someone else.

Dare2Blink says:

I don´t even know where to start, what you said makes that little sense. First of all what exacly did you expect the new flagship phone to have? lazers? It has the best screen of any phone, it has the best build quality and in many people´s opinion (including mine) the best design fo any phone, and obviously it has the best camera (even better than the n808 in low light). The only flaw with the phone is that it has no micro sd slot, but with 32 gb very few people will care. How much the lumia line sold is completely irrelevant to this phone because very few people are aware of (at least to the point of trying) a windows phone. The 920 is the best phone in the world period, and I bet it will still be after the iphone 5 is anounced next week (unless all the leaks are false, which I doubt). If you are going to criticize the least you can do is say what exactly they should have done, otherwise just shut up

anantou says:

+10000  :D  Best reply i've ever read.   "what exacly did you expect the new flagship phone to have? lasers?"    :D

What exactly is your expectation from a phone? To do magic? Well the Lumia line is now doing borderline magic with super sensitive touch, PureView with image stabilization, and the cool display.

What did Galaxy S III do exactly? What wonderous magic did that bring? Here: plastic, tacky materials, uninspired and boring design (seriously, you can hardly tell Samsung phones apart), Android which is known to everyone and has nothing new. The only useful thing they added was the eye scanner thing which keeps the screen on while you look at it.
So you see, none of the stuff you said applies to the S III and it sells like hot cakes.

"Duracell has had wireless charging" LOL! Show me a PHONE that has wireless charging! Did you know that there are professional cameras with HUGE sensors and PERFECT image quality?! So if a PHONE brings you that quality you will say "Meh, the professional cameras already take those pics"?!!
How does your brain perceive logic exactly?!
 
Your argument is invalid, and it really seems like you are just a troll.

falsehopess says:

I remember being really excited for the palm pre couple of years back. They showed wireless charging during their presentation. I expected more from Nokia after all the potshots at Samsung. Having said that I was pretty floored by the pureview demo. Having said that I quickly realized im not getting it if i dont switch to AT&T which is lame as hell. Atleast give us some of that pureview love on the 820.

RenatoFontes says:

wow....
We will probably see android nokia phones announced next month. xD

willied says:

Yes, and I'll be married to Mila Kunis.

dnmartin98 says:

The release of the iPhone 5 will, I believe, mark a turning point this time around.  Do I know what is going to be in it?  No more than what anyone else thinks.  But I thought that we were going to see more about WP8 yesterday than we did.  I suspect that this is an attempt (likely successful) to wrong foot Apple for the first time.  Apple will announce the 5 next week and it will go on sale a week or two later.
That now gives MS ample time to prepare the WP8 launch presentation to THEIR strengths.  Think about it.  They'll have the opportunity to show example pictures and video footage of the iphone 5 and the Lumia 920 side-by-side at a launch event and totally win the game.  They'll be able to cherry pick features to demo to show a superior face to WP8 over the iPhone 5 in a hugely public forums and in TV ads..  If they do that on Nokia hardware, which they surely will because of the Pureview camera and Puremotion screen tech, imagine what that will do for Nokias stock price and WP8.?
For once I am convinced that someone though about what to do here.  I suspect that we will see a new announcement for a WP8 launch event in October.  Which will actually be the one we thought we were going to get yesterday in addition to the hardware reveal...but didn't get.

erzhik says:

The only problem is that NOBODY except tech journalists and us WP fans will listen to them. People will be busy standing in a million mile line for the iPhone 5. This is where Apple bitch slaps everyone in the industry. They announce and begin sale almost immediately. And Microsoft didn't even unveil all features of WP8 yet and even Ballmer said that they will unveil everything in a month or two. But the thing is, NOBODY will give a crap about groundbreaking features of the WP8 in a mere 2 weeks because iPhone5 will go on sale. Only us, dedicated WP8 fans will wait a month or two for the release.

dnmartin98 says:

You missed my point.  Yes, there will be lines of people in two week buying the 5. But in November when TV ads go up (if MS do it right) that show average consumers that there is something demonstrably better, that may well have an impact.  At that point the die hard fans will have bought their 5's and you are left with consumers who are more easily persuaded by real results that they can see on a tv screen, while filling their faces with Doritos and beer.
 
This isn't about the people who queue up to buy phones in one weekend sales blitz.  That is for headlines.  This is about sustainable growth.  That's what drive business forward. 

Nakazul says:

... problem is they got tons of new people on contract iPhones who like last year cant change. If WP8 was ready, if WP8 devices where ready, they could acctully try to tackle Apple head on, cause some disturbance in the force =)

zacman says:

In October apple will present the iPad mini, at the end of October will be the AppleTV introduction. When exactly do you expect people to speak about WP? Especially as virtually everyone except WP7 users seem to hate the tiles.

jabtano says:

MS too little to late yet again they didn't learn the lesson WP8 needed to be out yesterday when you are playing in the back of the pack you don't have time to say COMING f*****ing soon

Steakman33 says:

I agree. The best possible scenario would be that MS and Nokia have an announcement right around the time of the IPhone 5 release, giving full disclosure. It might make the average consumer think twice before just buying an IPhone 5 because it's "new". Let's face it, Apple junkies are going to buy it no matter what anyone else comes out with.
I think the real reason that none of the carriers, pricing and availability info was disclosed was because there are other manufactures that still need to announce their equipment (HTC, others?). I don't think Samsung announced any of this info at their event either. Once everyone has announced what their bringing to the table, I think all the important info will be made public. I feel like they are trying to string out the announcements over time to keep W8 and WP8 in the news and people's minds. Too bad Wallstreet doesn't see it that way...

PenguinWP says:

They can't give full disclosure about an OS that's not done. WP8 is not finished, no matter what hardware is announced. The SDK isn't even ready, it'll be released to "selected" developers who can give feedback on what's missing. You can't compare an unfinished WP8 to the new iPhone, either to consumers or developers.

dkp23 says:

While i was quite surprised by the 16% drop, not because it was a drop, but it was above my expected 5%-10% drop. 
 
What did them in is probably not announcing carriers, availability and pricing.  Even if they did announce all this info, it would of dropped anyway. 
 
The reason ithink it would of dropped even if an announcement were to be made is because the release date would of been 2 months away while the iPhone would release within the next month.  Again, Nokia will ahve to play catch-up when it releases in November.  You can't get people to switch when they are entering into new contracts for an iPhone. 
 
The longer you wait, the more people that are on the fence will end up just getting an iPhone because they feel the need to have to upgrade when they first are eligible to upgrade. 
 
The only way NOkia would of helped themselves is announcing all the availabilty and pricing info and release in the next few weeks. 

OMG55 says:

I agree with all of you points, except I believe they can get some customers even after they have upgrade to the iphone 5. They can accomplish this by offering deals for trade-ins of competing platforms like they did last year; although I would not wait. But maybe MS does want to see the newest feature of the iphone 5 and compare Apple to Apples so to speak in a head on competition; Otherwise, why would they not have shown all WP8 features yet? The product is already complete, there's not other logical explanation.

dkp23 says:

Not sure why they are waiting to announce all the features, Apple is the market leader (not talking about market share), they dont seem to care about anybody elses info or dates (unless it is about patents), generally, they lead the charge. 
 
MS needs to get to that level, they shouldn't have to wait, doesn't matter if there product may be way behind, they need to market leader and not worry about the competition, if your product is as good as you think it is, things will work itself out. 

PenguinWP says:

WP8 is not done. Even the SDK is only partially ready, to be used only by "selected" developers.

jabtano says:

Which is why I sold a ten k block this morning. Nokia and MS blew this. MS has the power to weather the storm even if WIN8 CRAPS out. Nokia on the other hand has very little time left. as an investor and waiting on Nokia saying everything is about WP8 and only seeing two devices? one middle range device that everyone will get and one really hot high end device only going to AT&T and by they way after iphone5 all this thunder will be gone a missed chance by both.Though I love the 920 and how it looks as an investor my money is much more important.

Mon-El says:

MSFT appears to trading better since yesterday.  Assume that's not related?!  I admit, I have no idea about stocks and shares.

SocalBrian says:

Market is up broadly today, they're just riding the wave.

Why did Nokia's stock drop after announcing the Lumia 920? No Cyan Blue Lumia at  release.(Hey,it's as good as any aother reason.LOL) 

jake69 says:

I still have fate in my NOK stocks. Their fate is leaning heavily on Window 8 ecosystem success.

based_graham says:

I know how important the stock market is to companys. But its a game its like a sport to some people alot of strategy goes behind buying and selling. Traders probably wanted a quick buck so they shorted thats fine. For people that want to invest now is your chance! Will the stock price ever go over 40$ who knows it takes time. All that matters to Nokia is that their products are selling, their employees are getting paid and their share holders are earning it takes time.

I say time to buy. The product is solid and amazing.

BK-one says:

I really think Nokia 920 will be better hardware then the iPhone 5. That said, I see the 920 directly being compared to the iPhone 5 in October. MS seems to always. Have ling term plans for this short term society. We lack patience...

Neusyn says:

I was saying "Shut Up and take my Money" until I realized that the 920 doesn't have a microSD slot and that's a big point for me... I wouldve bought at least three 920s until I saw that now maybe just one. So disappointed.

It has 32GB of storage. Rumor has it the 820 can only take 16GB cards meaning it too maxes out at 32GB.

Honestly, I don't think many people need more than 32GB. I just don't see it. If it were a big market demand, well, the market would have responded in that way.

schlubadub says:

Are you serious?! I was going to get a 920 until I found out it had no microSD but I was happy I could have 8 + 64 on the 820. If I can't have more than 32 GB (24 on the 820) then it's close to being a complete deal breaker.

I have 16 currently (14.5 in real storage) and I'm tired of having to uninstall apps & games all the time; tired of having to move music/pics/vids to and from my phone.

ipods have had >32 GB for something like 8+ years?! My mobile is supposed to be an ipod/camera/mobile rolled into one. I know of a few people who have to carry an ipod and their mobile as the mobile only has a paltry amount of storage.

SkyDrive does not make up for a short-fall on the device, especially as I would have to pay 3 times more than I am currently to get 3-4 GB data, and pay 5 times more to get unlimited. I can get a 64 GB microSD for far less than the cost of just 1 month of unlimited data (in Australia BTW).

How is more storage a bad thing? I can carry half of my entire music collection, entire collections of holiday pics & vids etc with me, and never need to worry about going out of carrier range.

All Nokia need in the 920 is a microSD to support an additional 64GB. Then individuals can decide for themselves if they want to use it or not.

OMG55 says:

That's why you can access the sky drive from any computer.....Note To Self, My Computer/Laptop Hard Drive Will Always have More Space Than My Mobile Phone, Maybe I Should Create Playlists Of My Favorite Songs And Cycle Them Out Every Once In A While With Fresh Music....Thereby Reserving Space On My Mobile Phone

Neusyn says:

:/ maybe I'm not being clear, I want to have the choice to listen to any of my music that I listen to at least once week, at my finger tips on the go. I don't get the best signal in and around a 14,000 ft mountain.

schlubadub says:

I agree with ya man. I don't get the people saying "oh you don't need that" when so many of us are calling out for it.

OMG55 says:

Besides maybe Apple, how man cell manufacturers are selling 64GB units with Expandable mem? I suspect Nokia may have one more device up their sleeves.

schlubadub says:

That's irrelevant - if I have access to my computer then I don't need SkyDrive. My entire point is that I want more on my phone and I don't want to have to screw around moving things on and off all the time because I'm running out of space, like I am now. Music is only one part - most of my storage is used by 'apps and reserved content' then music then pics then vids. I like having some apps & games installed for a 'rainy day' but I've had to uninstall dozens & dozens due to lack of storage. Yes, I can reinstall them but often I'll lose saves or it's inconvenient to install them at the time. It's great you don't need more, so why should the rest of us be crippled?

blackprince says:

What!!!??? People do that other than me, the shock of it all.

Neusyn says:

True but I'm speaking from personal needs. I live in the Rocky Mountain foothills and sometimes reception isn't the best (understatement) even with AT&T which I seem to get the best signal with. Since I actually have a Zune pass and listen to alot of music, I simply can't stream because of a variable signal. So I was happy with my Focus with 8 + 32GB was pretty good and I still used all that space. Just that fact makes me want a ATIV S, I might buy a 920 for my fiancée because of the camera tech. But I have a need for it, again though it's personal. But I love my 900 and like Nokia and so I so I want to hold off till a new high end device becomes available down the line with the potential storage of 16 + 32GB. Also i don't understand why the 820 only can take 16GB max since 16 and 32GB microSD cards are both SDHC, only thing I can think of is limited resources.

dreamstrue says:

The first and most important thing nokia should do is stop the leaks. The leaked images spoiled the entire event.
secondly nokia didnt knew how to uncover the awesome new Lokia  920. The lady just walked with the phone in hand visible to all then she says see the action on screen. There was enthusiasm missing in the show. it was not energetic.
Thirdly the camera would have been 16MP or more on Lumia 920 and offcourse a MicroSD (i knew 32gb is more enough but still i would have an chance to expand more.)
But to be frank Nokia Lumia 920 is exceptionally satisfying phone. I love Nokia and i am waiting for it. I just hope they dont delay it again saying i love US and release allover the world after the anxiety is over.
 

OMG55 says:

Let's face it, THE LADY looked like a CARAVAN! They should have sent a, "FERRARI" on stage to present the new phones and the took demo picture of her demoing PureView. That alone would have siked up the crowd. It's time for them to take the car show approach to presentations of new products.

schlubadub says:

Lol so true :P I don't know why they thought a mum figure would have any 'street cred' with the average punters ;)

BK-one says:

After all the dust settles, I am still getting the 920. And that's the bottom line. Companies don't really care what you think, they just need to convince you to give them your money.

Ian Too says:

The thing which annoys me about investors is what craven cowards they are. I wouldn't mind if their only affected them, but peoples' jobs are on the line.

You're fortunate to have the money to invest in such a good company instead of barely meeting your needs, so man up.

I think mainly coz price and availability.

warpdesign says:

I think that with a release date & price stock would have gone 32% up instead of 16% down...

B Eubanks says:

Honestly, maybe investors weren't impressed with what was (or wasn't) revealed about Windows Phone 8. As far as phones go, no one jumps up and down with excitement when a midrange or lower phone is revealed. The people waiting for these events are waiting for the cutting edge, flagship phones. So the 820 reveal is no big deal.
As far as the 920 goes, it's going to take more than a wireless charge pad to impress people.  Very limited appeal.  The camera, which seems to be great, appears to be the only big selling point for the phone.
While I would love to have that camera, I was distracted when I noticed that simple things like displaying more than one appointment on the Calendar tile, and the apparent lack of improvement on the calendar in general, weren't addressed by Windows Phone 8.
To me, there was no real big surprise that hadn't been leaked already, so maybe investors had been expecting some actual big surprises as well.
 

OMG55 says:

How can you say the calendar issues have not been addressed when MS did not go into details or actually demoed the OS? Belfiore said they weren't showing the OS in its entirety and the he was demoing camera features. I do think they should show all of the features of WP8, revealed pricing, and stock the shelves of stores.

B Eubanks says:

I caught bits of the calendar on one of the 920 hands on videos. I had read earlier that the Nokia/Microsoft event would be featuring phones with full-on Windows Phone 8 OS, but I guess I misunderstood. 
Mine main feeling was that we're getting to a point where most new smartphones are essentially pretty similar and it's getting difficult to provide a "wow" factor.  In the case of the 920, some of the wow factor of the camera (which had already been leaked to a degree), was killed for me because there wasn't a lot of info on WP8 improvements or features. I'm actually very happy with my WP7.5 phone, and am looking forward to fixes and adjustments to the OS (such as the calendar) more than new gimmicky features that I may or may not use.
For the most part it was a case of "Look, here's another rectangular flat device that you can call people with and now it takes even better pictures"
I

mjfadaway says:

They didn't announce release dates, prices or carriers. The phones are great but that lack of information was disappointing.

gravage says:

^This. It's the exact mistake that HP made when they announced the Pre 3 and Touchpad. The hardware wasn't actually released until almost 6 months later. Consumers have a long memory. By being vague about the availability, they actually lost consumer confidence. Better to have waited until the devices were ready to make the announcement, but maybe they felt that they had to do something.

aubreyq says:

Well that is the thing. Why did they feel they needed to make an announcement on September 5? What's behind the strategy?

schlubadub says:

It's a "we're first" strategy mainly aimed at Apple, I believe. It's highly likely the next iphone will have some of the same new features, so it's stealing some of the thunder. What a great way to promote your phone if it's used in the iphone reviews for comparison.

MediaCastleX says:

I feel as though the short term emotional state of bring in Wall St is a problem for both businesses and the country. We have a whole culture of people there that don't do any real work and make a lot of money by ruining businesses by their "logic" Great article but I really wish these guys would just run off a cliff... =/

Oldmajor says:

Anything that happens prior to an actual financial anouncement (Declare Bankruptcy, Quarterly earnings call, special earnings call, etc) is pure speculation. However, since Nokia does not have an actual EPS it really is hard to value this company. However basedon the restructuring and the growth of Windows Phone portfolio (7M in the last quarter, more than doub the first quarter) I would gamble on Nokia stock.

I feel as though Nokia did a remarkable job with both models -- technologically speaking, and I feel like they presented the features well... especially the camera, obviously, but they showed off Maps improvements as well as the Augmented Reality features, and that's well and good. Where I think things fell apart was the lack of release information and the fact that Microsoft wouldn't reveal anything new about the OS itself, which is very much needed at this point. In fact, for a news conference, we didn't really learn anything new about the platform, and I think that's a big component of why investors may be annoyed... they're still not confident in the platform. We know there's plenty to like, because we follow so enthusiastically, but how do you "wow" the average user and investors when you won't talk about the features that matter to users?

Lundon44 says:

Well I for one bought NOK stock at $2.39 about a month or more ago. I intended to buy it at $1.67 but missed the boat and bought it on the rise. I've always had faith in Nokia delivering great products and took the chance believing they would redeem themselves with the 920. Stocks went up as high as almost $3.30 at one point showing great signs of them bouncing back. But somehow the annoucement of the 920 did the opposite of what I expected and tanked the stock.
My friends feel I should've sold at it's high a couple weeks ago but when I bought I bought we long term visions. I still believe they can sell millions of these devices and IF they do release a tablet then we'll see some jumps in the stock value. With Windows 8 around the corner this will build additional awarenewss of WP 8 since they are both based off the same OS. And if this does, we'll see even more people flocking to these devices because they want a similar experience on their PC's and their phones.
Anyway, this all my personal speculation and hopes.

Narr says:

They should have made the announcement with more certainty as they must have basic facts to hand, unless AT&T are making the whole world wait, due to being exclusive, while they release the iPhone 5.

Seasword says:

Here my take on the matter :
1. Too many leaks. The market already "priced in" it.
2. Too few things to show.
3. No innovation or discovery.
4. No major efficiency improvement, such as very slim, high mega pixel combined with good sensor etc.
5. Microsoft did not show a thing even when in its partner's show. A major blow. Nothing to show = major blow in confidence. Screenshot ? LOL :D You need way more than that even just a small subset of coming features. A good example is 2 apps used simultaneously with WP8 and W8 and interact with each other using wifi.
6. Too much hype. Nokia hyped thing too much and markets around the world hoped too much. Crash.
7. Combined with 7.8 debacle... There must be very strong reason to upgrade. None shown in the show. The lack of an upgrade path must be justified with a lot of difference in the software side which was not shown in WP8 NOKIA launch since the majority sold now is Nokia's.
8. The whole show is actually a repot that comes alive. A brief report that is.
 
I hope the WP8 official launch will include Nokia to emphasize things and make complementary stock price increase with Microsoft. Not just there, but also present and give speech.

Gaichuke says:

"3. No innovation or discovery"
 
Aaaaand you're out.
 

paulm187 says:

Guys the issue here is not the lady or Kevin, its the fact that there was no info on pricing, carriers, markets and launch date, the kinda of stuff Wall st wants. I bet Nok and Ms will have a huge launch for the producat and windows phone 8 later once the hoopla around craApple goes off a bit. Frankly I think Nok got the best phone this holiday, iphone5 is set to be a disappointment

WilliamC1972 says:

It really sucks when they don't even tell us a release date. And why not come strong with a quad core and 41 pixel camera from the start?

dasfoto says:

Why put in a power hungry quad core processor when a duel core is sufficient. I don't want to drain my battery just so I can brag about having a quad core processor. As far as the 41 megapixel sensor, do you want a phone an inch thick. That's the only way you could utilize it. And what would you do with the 41 megapixels anyway? If I want that level of resolution, I'd rather spend the money on a high end DSLR where it would really have some value.

WilliamC1972 says:

Thats because it's a marketing gimmick and would have a wow factor to alot of people. And simply put a larger battery in the device.

lumiaro says:

Galaxy III is snapdragon S4 dual core and so is HTC one X. That's not the issue.
The problem is no details about when it will be available on the market and pricing details.
Microsoft is to blame here, keeping Nokia in control and at the same time being slow to react to the market and then coming on to stage and showing off it's tiles as people don't know it. Come on. It's been 2 years now, just tell us when you are releasing WP8.

Rick Smits says:

Great article Chris

mythos13 says:

I believe no carrier specifics, release dates or tablet announcements played a roll but Nokia’s trading volume was a massive 4x average yesterday and that can only mean that the institutional investors were quite active. It’s peculiar that large sell orders started the second Nokia’s presentation started and before any actual news so these were coming from one or more houses that intended to sell off when the presentation started regardless.
 
There are two reasons why institutions pre-planned to sell of Nokia yesterday. One is of course the classic buy on the rumour and sell on the news. But the conspiracy theorist in me wonders if one or more house decided to start selling big when the presentation started in order to trigger a negative wave with the intent of driving the price considerably down so they could reload after the fall. If that was deliberate, their plan worked flawlessly as many more obviously did panic and sell on the trend and now today is another very heavy volume day where it looks like some house are reloading on Nokia.

Stock people need confidence and assurance. Yesterday did not suffice. What would have been better or less depressing would of been (Tablet announcement, 2 Lumia Phones & Availability). Also add in all of WP8 features publicity available for people to get impressions and hands-on. The 920 is nothing more than a warmed over 900 and while yes Apple has been doing it or over 5 generations with the Iphone, Nokia is not Apple and does not have the same following or success rate currently.

DrewLumia900 says:

You obviously do not understand technology if you view the Lumia 920 as a warmed over 900. The iPhone has not changed for 5 freakin years. WAKE UP!

Clearly I said that in my post. But Nokia is not APPLE! I'm guessing you skimmed my post and was quick to argue my point.

CheekyTaurus says:

You guys with the breathless "16% Collapse" language.
The stock is < $3.00. 16% = around 60 cents. That's not a collapse at this price, especially when the stock was below $2.00 just a few weeks ago.
A collapse would be half its value at this low price. Stop with the hysterics already.
And yes, I am a Nokia stockholder.

SocalBrian says:

Sorry but 16% is a big drop for a widely traded stock.

CheekyTaurus says:

Percentages are relative to the price of the share. A < 50 cent drop on THIS stock is not a collapse, sorry.

Fritzly says:

I am sorry but......Percentages are percentages period. What also matter is volumes and Nokia trading volume yesterday was four times the average.

dasfoto says:

I couldn't agree more.

DrewLumia900 says:

I think that Nokia put out 2 incredible devices which are innovative in every regard. Apple wishes they could dream up devices this sexy!
I believe that the issue stems not in what Nokia or even HTC, LG, etc bring to market but rather how most "industry analysts" have developed an Apple biase in the US. "Oh look what company ABC put out..........that's not an iPhone, it's garbage!"
As a Canadian that watches the global markets, I have to admit that I am disappointed in how Nokia and alot of other manufacturers are treated in their stock evaluations by what I view as uneducated American analysts and consumers. 
I made the jump to Windows Phone because of Nokia. The purchase of my Lumia 900 was the result of months of playing with every single phone on the market. Nokia had the best built device hands down.

lumiaro says:

The only one to blame here is Microsoft. Nokia is doing best as they can, but it's Microsoft who is lagging and bringing Nokia down. Nokia is ready with next generation and did everything right they could in last 1.5 years but Microsoft is still sleeping and will wake in the middle of night to let Nokia eat the leftovers after Apple/Sammy party.
I mean why delay on WP8?  Are you not done with coding yet, when you knew years before hand and pushed WP7 to be left in dark and working on WP8 on the side. This is just BS.

i really think the delay in releasing major details of what wp8 brings to the table for consumers is that MS is waiting for the iphone 5 to be announced and ios 6 to leave beta. I am sure aqfter that has happened more and more details will come in very quickly. I also think nokia phones will be going on sale around the same week as W8 and RT are released to the general public. Dont forget that something is also happening at Nokias flagship store on the 7th???

operand says:

Personally it was an average showing by Nokia. They needed to not only hit a home run but a 500 foot shot over center field. The specs were good but nothing exciting. This isn't about WP7/8 rather about the smartphone market in general and Nokia disappointed me.

iSeeiSheep says:

I own Nokia stocks (40k rough value). Hardly a collapse, more like an emotional hissy fit typical of the bozo's on Wallstreet.

Remember that Wallstreet reacts to silly things and has no real clue where Nokia or Microsoft is going, but let's look at some facts.

1. Microsoft is investing in Nokia

2. Microsoft will become more likely to buy Nokia if Nokia fails or falters because it needs a partner or dedicated business owner in this space.

3. Smartphones are replacing tablets and laptop devices in the future - smart phone is becoming the core. Tablet and PC are merely interfaces to data.

Microsoft's architecture is designed for the future with the smartphone playing a key role.

Wallstreet morons do NOT understand architecture and the value added.

Nuff Said... =)

Neusyn says:

I don't know about the rest of the consumers but ill have tablet to have the large interactive screen and run PC programs on the the go in a light and mobile solution. And I'm pretty sure you can't play BF3 on ultra settings on a phone.

procen says:

One thing you forgot to add is Wall Street is the who destroyed our economy and no one, no one went to prison. I don't know if they predicted what will happen, but they're full of "Sh_ _" either way.

FearL0rd says:

They should release all phones for all carries like Samsung does..... and Make $$$$$
 

spitefulgod says:

Sold 3000 shares when it started tanking, stocks always fall at product announcements, even at apples, although to a lesser extent... Ever way I bought back 3600 at the same price this afternoon.

jcutting says:

I think yesterday's event was a disappointment for a few reasons.  Most of this has been stated, but I'm adding my take.
1. The presentation sucked. The devices are cool, but the two Nokia presenters had NO enthusiasm or excitement about what they were presenting.  Enthusiasm from the presenter, showing that they believe in and love what they're showing, often induces enthusiasm in the audience.  The audience can feel that enthusiasm (or lack thereof).  I love WP and I got more excitement reading WPCentral's live blogging than I did from the actual presentation.
2. With the announcement of Microsoft being there, most folks expected to see more of WP8 at this event and Microsoft disappointed.  There was a recap and a few minor new things shown, but mostly it was just a big let-down.  The "we'll show more over the next month or two" comment was a slap in the face that deflated things even more.
3. While all of the camera and screen enhancements are really cool, there wasn't enough to really make anyone go "ooh."  An innovative NEW feature to really round things out could've helped, though maybe not due to #1.
4. Finally, the thing everyone else has commented on - price, markets, carriers, etc.

igonzo03 says:

#next_pages_container { width: 5px; hight: 5px; position: absolute; top: -100px; left: -100px; z-index: 2147483647 !important; }
A presentation without a release date and price is a crazy idea, it looks like those are prototypes and not something that should be in the stores next week.

 

zacman says:

Well they ARE prototypes. At least that was Nokia's excuse why you weren't allowed to do more than switch to the app list on a hands on.

igonzo03 says:

The stock feel because even though they showed good devices the time isn't on their side and people still don't have anything in their hands (if it isn't in the store then it doesn't count), they need a success and quiclky show some great numbers.
Apps must flow like a tsunami, 8.1 and further updates have to be delivered mainly because everyone must see their support (everyone knows that those things will give them credibility and only then average customers will decide to switch). Speed is essential and at this moment we only got a few noteworthy devices - 2 Nokia Lumias, 1 Samsung Ativ S and as for new tablets there's the upcoming Surface (we should be already waiting until November for the desktop Intel version but instead RT version still isn't available). People want Windows 8 and there's nothing on the shelves after months of waiting. 

Les_King says:

Buy the rumour sell the news, standard response from traders imo

Sirhill says:

You can't blame Nokia for the drop but you sure as hell can blame MS for it. mS makes the OS running on the device not Nokia, MS also said that we would see a complete showing of phone and OS but we only got the phone. So MS is to blame. Point blank and period. If the os was ready then Nokia could have given more info granted that their partner allowed them to. Nokia is the puppet in this not the one holding the strings...

rbf1337 says:

Stocks always tend to drop on announcement days. However, the presentation overall was not good. They should have gotten Ben and Joe to do the stage work with Balmer and Elop coming in for just a bit.

badMojo69 says:

OMG that presentation sucked big time.  I mean it was just bad. 

david126 says:

Totally agree, that lady was not the best presenter, motivation sounded too scripted...

welsbloke says:

For me the reason for the dramtatic drop is one of unrealistic expectations and goals. It seems the media expect Nokia to attain a market share comparable to Android and Apple almost overnight. The fact it takes time to build up its marketshare seems to allude them.
 
An example of over expectation was the announcement itself I believe people thought that something amazing was going to happen like they were going to release WP8 on the spot and the new devices would be available on Amazon as we announce. It is these unrealistic expectations that I think intially hurt the stock.
 
Shortly after the announcements the news coming out of the journalists in the event via the live feeds seemed to indicate that the devices were somehow failures yet 24 hours on and with more time to consider and having held the devices the reports seemed to have moderated in favour of Nokia again.

texantony says:

I think it's a way to make people think about their holiday purchase. There are millions of Xmas sales and many are going to compare. If all Apple has is a bigger screen, and maybe 4g lte, then I don't see many continue to get sucked in to Apple's crap. As far as the stock is concern, its not a shocker. Actually, I still think the 3rd quarter earnings might not be so good and the stock will go down a little more. After that, its long term for me.

pjs37 says:

That never stopped them before.  All the 4S had was Siri which no one actually uses and slightly better speeds and people still bought that.  I am actually convinced Apple could re-release the same exact iPhone model as the year before call it the iPhone 5 talk about new magical applications and people will still buy it.

badMojo69 says:

Wow talk about Sheep.  Buy the rumor sell the news...good grief.
July 19th NOK = $1.69 a share
Sep 5th NOK = $2.38 a share. 
 
Only idiots bought the stock the day before and lost %16.  The smart money was out b4 the news. The smart money had a 40%  ROI.  If you would have sold at anytime since July before the news you would have made $$.  Heck even if you're still holding you're in the black.
 
Nothing to see here move along...move along

Les_King says:

Thanks for taking my comment so unbelievably litterally, my point was its hardly anthing to worry about.
Unless im missing something I didn't state the all the "rumours" were on the day before, but to paraphrase you = "WOW" thanks for pulling me up on it.

badMojo69 says:

My reply was not to you sir.
No way did I read all of these post.

Les_King says:

My humble apologies ...

Bushybro says:

Buy more, that's what I'm doing

namikral says:

aint buying any more they look hopeless with this team

Murgatroyd7 says:

I have to admit I was a bit shocked by the big drop.  It seems like stock prices go down every time someone announces fantastic new hardware.  Oh well, I have faith that Nokia will continue to thrive and we just might buy some shares.

david126 says:

The speaker didn't really move me and I'm sure this trickled down to wall st and on top of that no carrier, no price, no release date. Such bad ass devices but bad presentation :(

david126 says:

Agree 100%, I felt the lack of enthusiasm..felt it literally

david126 says:

Btw, why couldn't I watch the presentation on my lumia..needed Silverlight!! Mobile stream would've been nice..thank you

renisans says:

This article is spot-on. The lack of details is truly disgusting. Mr. Elop, I like the new phones so tell me when and where they are dropping? This gut is simply tone-deaf to the questions we are all asking. Nokia needs better than Elop.

Yangstax says:

If 820 has the same Pureview technology that is built into the 920 and 920 itself comes with a Quad-Core 41 mp Pureview, you will see a 16% rise on NOK yesterday instead.  Pureview technology is Nokia's strongest weapon that can differentiate itself from the crowd by a wide margin.  They should exploit it aggressively and quickly before competitors can find ways to narrow the gap.  If the subscribers of Verizon and T-moble have the opportunity to use and appreciate the Pureview camera features, the enthusiasm for the Nolia new phones will spread swiftly like wild fire.  Instead, Nokia chose to market 820 as a colored WP8 standard spec phones to compete with Samsung ATIV S and HTC Zenith.  Good luck!  Basically, Nokia put all the recovery burden on the AT&T 920 which has a downgraded Pureview.  Although it does has great low-light capabilities with OIS.  But is it enough?

So what do you think will behappening at Nokia'sFlagship store on the 7th????

metalvibe says:

Anyone know what happened at Nokia World? All the news seems to be for the NYC event.... anything at all about Nokia World? Btw, until Apple & HTC show their hands.... people should not pass judgement. Its quite sad that alot of ppl think the iPhone 5 is the best phone....... its NOT even released. How can it be BEST if its not even released.... idiots!

PenguinWP says:

Good question, I was wondering that too. I know they downsized Nokia World a lot this year, but no news at all? Also, the only comparison to the iPhone 5 that counts is the lines of people lining up to buy it vs WP's paltry market share. And MS is starting over again with WP8.

Damien_666 says:

It's not fair to blame Nokia alone for the silence on release dates, carriers and pricing.
MS has a big stake with WP8 - it looks like they're not going to be ready until late October at least.
Nokia can't commit much to carriers when the release date is so far away - when Apple can sell its phones within 2 weeks of launch.
If you observer closely, the release dates and pricing for ATIV S is also not out!

tropolite says:

The time has come and gone when these soft sell type announcements cut it.
Can you imagine the momentum of surge if the announcement followed with a .. 'Wait, that's not all... these beauties will be available in 2 weeks time, and blah blah blah..'
Just enough time for the surge to ripple through cyberspace and have people ready with their money to pay up front for these devices.
The speed of this industry with phones coming out daily, theres going to be other devices getting in the way of the initial falling in love with the device announced 3-4 months ago.
Yes, it was okay to get an announcement out before some others, sure, but I'd personally would've relished the point if the Lumia was announced after a plethora of other significant devices only to be available within days - not months.
 
Marketing momentum and wave riding the enthusiasm of the product... something Nokia / Microsoft need to learn quickly.
Having said that, I already love the elegance of the OS and really love the build quality of my Lumia 900 - I am a Lumia 920 owner already... I just have to wait till it is released.
 

NokiaNoWP says:

As Nokia is lead by a CEO who puts another companies best interests ahead of Nokias, there aren't much more to look forward to than a catastrophe, we seen how Elop has ditched Mobile Payments (good profit in Asia), MeeGo based phones like N9 (got better independent reviews and sold 3 times better than all Lumias togheter till 2012Q1), Meltemi and of course Symbian (keep in mind that all three OS was free to use for Nokia, while WP costs them ~US$20 per produced unit), Patents, QT and a lot more. There is no trust from investors on the current CEO.
Nokia is still waiting for the driver for the 41MP camera used in the real PureView, this is the reason why the phone had to have Symbian and they needed to make a Symbian version of Lumia to be able to sell ANY Lumias in China (we will most likely see Symbian versions of the two new Phones if Nokia don't want to loose the 1% market share over there).
the "funny" thing is that microsoft do not have much more market share today than they had when Elop begun to crush Nokia, but Nokia has almost lost all of it's market shares and is loosing heavilly every day that goes, as the majority of Nokia phone users choose to buy something else when they upgrade their current phone and in Finland Jolla Mobile may overtake Nokia as the most popular Finnish brand already this year.
For Nokia, the best thing to do is to prosecute the CEO and break the agreement with microsoft and start to do what they were good at, producing good cell phones or else they will be bought by Samsung, just so that Apple would be forced to pay license fees to them. microsoft has no interests in Nokia, as they have thanks to Elop got all access to Nokias patents (when Elop sold them to patent trolls, there was a clause that Nokia and microsoft are allowed to use the patents without having to pay license fees).
 
Don't forget the fake Lumia 920 video and photos, which were made with professional cameras, but that's something they learned of microsoft, a lie to help the sales instead of improving the product.

GeekoBuntu says:

If Nokia were an American company, the stock would have rallied on Wall Street. But alas, it is not, so no love over there. A non-US-based company will always suffer a 50 to 80% value penalty on Wall Street compared to similarly-performing US-based companies. Also, US investors do not know or understand Nokia: The company never learnt how to manipulate media in N.A. like the locals, such as Apple, do. They have, till only very recently, been too honest, and that never pays off in the US. Now it is too late.

wpos8 says:

I dont believe stocks. When wp8 arrives at stores the stock will go back up

wpos8 says:

Markets and me app live tile dont work anymore. It sucks. I found better one that works

21stNow says:

The iPhone 4S was a disappointment and sold four million units in the first week.  How many units do you think the new iPhone will sell if it's actually impressive?  Granted, the iPhone 4S had a boost because it came to a new carrier (Sprint), but that's still a high amount of sales.  How many Nokia Lumias 900 have sold to date?