Nokia Market Cap Up $3.5 Billion As WP8 Release Looms

It’s been a bit doom and gloom here at WinSource, as we loathe having to report the numerous hits Nokia has taken after hopes in January that the company would pick back up. The company saw an 18 year low in stock price on July 17th shortly after Windows Phone 8 was announced, but on the eve and just under a month to go for the new ecosystem, Nokia’s stock sits at $2.64 and rising. That’s a 50% increase and we’ll take it.

The market cap for Nokia has been raised to $9.8 billion, which will help Stephen Elop maintain the direction of his company, as he has re-iterated today that the company sees a future in Windows Phone and nothing else. Nokia’s stock price will ultimately depend on how well Windows Phone 8 is received. If consumers love it and begin adopting it at a steady pace, the stock could begin rising again, which is what we’re hoping to see.

Elop is no doubt hoping for the same recourse, as if the stock achieves $11 per share at the end of the year, he’ll receive an additional 750,000 shares in a remuneration package set up for him. Interesting. He’s got good reason to say Windows Phone 8 is where it’s at.

[via WMPU]

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