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Nokia: 3G iPhone Will Help Us, Too; Counters With N96

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Apple (NSDQ: AAPL) may have stolen yesterday’s headlines with the news it finally supports 3G, but Nokia (NYSE: NOK) SVP Anssi Vanjoki (via Reuters) is sanguine: “Convergence will strengthen through such a significant company such as Apple coming to that field. From the perspective of operator business this is an extremely good issue.”

SEE ALSO: @ WWDC: 6 Million iPhones Sold In First Year; 3G Is Here

But analysts disagreed. American Technology Research downgraded the Finnish handset maker from “buy” to “hold,” warning: “Nokia will face increasing competition from new third-generation smart-phone introductions in the second half of 2008 and early 2009. We do not recommend new money until we get a competitive response from Nokia.”

Nokia’s response? Hours before Steve Jobs’ iPhone announcement, Vanjoki said it would release the N96 (an upgrade to the N95 handset that adds DVB-H) and a new line in E-series handsets during the Q3 that is the focus of analyst concerns. The E-series lineup is thought to include the E71 (an E61 upgrade, adding GPS). Nokia shares closed just north of their 52-week low in New York last night.

Jun 10, 2008 2:29 AM ET

Posted In: Companies, Apple, iPhone, Nokia, anssi vanjoki, n96

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