Published in Mobiles

Nokia slips to 16-year low following Apollo announcement

by on25 June 2012

Current generation Lumias incomptabile with new OS

Nokia’s shares fell to a 16-year low after analysts weighed in on Microsoft’s announcement of Windows Phone 8.

The problem? Current generation Windows phones, including Nokia’s Lumia series, will not be compatible with Redmond’s new OS.

By noon Monday, Nokia’s shares slipped to €1.79, the lowest since august 1996. At press time Nokia managed to claw back some of the loss, but things are not looking good.

Although current-gen Lumia phones will not get Windows Phone 8, they will receive an update to Windows Phone 7.8, which will incorporate some new features, including an all-new home screen.

At this point the major concern is that consumers will simply wait for new WP 8 compatible phones, or shift toward Apple or Android rather than buy WP 7.x devices. Basically the announcement could further hurt Lumia sales, which were relatively slow to begin with.

More here.

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