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Share Name | Share Symbol | Market | Type |
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Microsoft Corporation | NASDAQ:MSFT | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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-12.05 | -3.00% | 390.20 | 390.27 | 390.30 | 402.16 | 389.17 | 401.15 | 28,781,501 | 00:59:58 |
HELSINKI-- Nokia Corp. on Tuesday unexpectedly made a return to the consumer market it abandoned when selling its handset unit to Microsoft Corp., announcing a new Android-running tablet set for launch early next year.
The tablet, manufactured in collaboration with an unnamed Chinese hardware partner, was announced at the annual Slush technology conference in Helsinki, Finland. Nokia said it has licensed its brand, industrial design and intellectual property to the hardware partner "on a running royalty basis."
The hardware partner, however, is responsible for engineering, sales and customer care, as well as potential liabilities and warranty costs, Nokia said.
The Android-powered device, which is set to retail for $249 excluding taxes, will hit the Chinese market first, Nokia said, in time for Lunar New Year on Feb. 19, and is set to hit the shelves in other countries later.
The new tablet marks a swift return to the consumer market for Nokia, which in April this year transferred its loss-making handset unit to Microsoft in a $6.9 billion deal.
The Nokia N1 tablet sports a 7.9 inch screen, a 2.4 gigahertz quad-core Intel processor and is 6.9 millimeters thick, Nokia said. The device runs the latest Lollipop version of Google's Android operating system.
The software will have a distinct Nokia touch, however, as the tablet comes with Nokia's own Z Launcher preinstalled. In Android, so-called launchers are programs that tinker with the design and functionality of the home screen and application launcher.
Write to Sven Grundberg at sven.grundberg@wsj.com
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