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Consumers continue to prefer the iPhone and Android smartphones over Nokia and BlackBerry devices, and now analysts are questioning if a third platform will ever have the chance to succeed. Charlie Wolf of Needham & Co downgraded Nokia shares to Hold from Buy on Thursday, Barron's reported. The analyst explained that he upgraded Nokia "too early," adding that it may have been wrong to upgrade the company all together. He noted that Nokia's recent earnings were “disappointing on virtually every dimension,” adding that Lumia sales, while they rose 32% from last quarter to 7.4 million units, are concerning because the average selling price declined 18% to roughly $205. Wolf is now questions "whether consumers are even interested in a viable third platform in the smartphone market,” noting that "Nokia’s second quarter results raise the possibility that consumers are content with just two platforms."
Via BRG - Boy Genius Report
