Bloomberg News

Nokia Rises as CEO Signals Broader U.S. Effort

December 18, 2012

Nokia Oyj (NOK1V), the Finnish mobile-phone maker struggling to revive sales, rose to an eight-month high after its chief executive officer was reported to signal that Verizon Wireless may carry more of the company’s devices.

Nokia, whose flagship Lumia 920 smartphone is sold by AT&T Inc. (T:US) in the U.S., may broaden its offensive in the country by selling a high-end device through another operator, CEO Stephen Elop said in an interview, CNET reported today. Nokia is planning “a lot of exciting things with Verizon,” Elop said according to CNET.

The Espoo, Finland-based mobile-phone maker is trying to win back customers from Apple Inc. (AAPL:US)’s iPhone and devices using Google Inc. (GOOG:US)’s Android system to reverse a sales decline and return to profit. Verizon Wireless is the largest U.S. wireless- service provider.

The shares gained 7.9 percent to close at 3.20 euros in Helsinki trading, the highest level since April 11. Trading volume was double the three-month daily average. Even with the recent gains, the shares have declined 15 percent this year.

To contact the reporter on this story: Cornelius Rahn in Berlin at

To contact the editor responsible for this story: Kenneth Wong at

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