Early this morning we reported that Nokia would be launching its own Lumia 920T on China Mobile, a mobile operator in China with more than 700 million subscribers. The news has been a huge boon to Nokia’s previously falling stock prices, as the stock closed at $3.88 today, a 10% increase over its opening price. This announcement lead to the battering of Apple stock, as now Apple will resort to selling the iPhone 5 on China Unicom and China Telecom, both of which are much smaller networks.
Apple lost $35 billion in value today as a result of this announcement in addition to the company losing constant market share to Android and Windows 8 tablets, as well as many investors fearing that margins are being squeezed too tight. No company can be king forever, as evidenced by Microsoft’s downward spiral in the early 2000s. Apple is expected to lose its 50% market share in tablets by 2016. Are we starting to see that trend with Apple now as Microsoft and Nokia play the role of comeback kid?
[via Brisbane Times]