Nokia gets new mobile portal to Vodafone handsets

Morshad published 07 Nov 2007, 14:49 in main - 262 views

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Cellphone maker Nokia Oyj signed up Vodafone Group Plc (VOD.L: Quote, Profile , Research) for its new Internet portal Ovi, giving Nokia shares a boost on Wednesday.

Shares in Nokia hit a new five-year high 28.24 euros as the deal reinforced faith in Nokia's Internet strategy, though they later lost some ground.

Analyst Richard Windsor from Nomura said he was rather surprised because he saw Ovi as quite threatening to operators' brand value.

"We would view Vodafone signing up for Ovi almost as an admission of defeat in terms of the brand battle that has always existed between branded mobile handset vendors and branded mobile operators," he said.

News source: Reuters

Tags: Nokia, Mobile, Portal, Vodafone, Handsets

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