Nokia President and CEO Stephen Elop debuts the Nokia Lumia 920, Nokia’s flagship Windows Phone 8 smartphone, at a press event in New York September 5. AP
HELSINKI—Nokia Corp.’s share price is continuing to fall after the unveiling of the company’s first Windows Phone 8 smartphones failed to impress markets and analysts.
In Helsinki, its stock dropped as much as 4 percent on the open Thursday after the previous day’s launch caused it to tumble more than 13 percent. In New York, Nokia shares fell 45 cents to $2.38 on Wednesday, trading at the same level as in the mid-1990s.
The former No.1 cellphone maker had hoped the New York launch would convince markets that its alliance with Microsoft Corp. would signal a reversal of its slide against market leaders Apple Inc.’s iPhone and Samsung, and devices using Google’s Android platform.
In early afternoon trading, Nokia had recovered slightly, trading 1 percent lower at €1.97 ($2.48).