Nokia's slide continues after Windows 8 launch

Nokia's slide continues after Windows 8 launch

September 6th, 2012 by Associated Press in Local - Breaking News

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, Wednesday, Sept. 5, 2012. The Lumia 920 features a camera able to take in five times more light than competing smartphones for sharp pictures in low light without flash, and the phone comes with integrated wireless charging and a suite of location-based apps for personalized mapping and navigation. (Photo by Diane Bondareff/Invision for Nokia/AP Images)

Photo by Associated Press /Times Free Press.

HELSINKI (AP) - 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).