In retrospect it might look like the apparent inevitability of Risto Siilasmaa becoming Nokia's (OMX: NOK1V) Chairman was taken as a major positive by the markets as Nokia advanced 7% on Thursday going into extended weekend after the news broke.
In actuality most of the advance was attributed to the re-circulated rumour of Nokia trying to sell its smartphones-unit to Microsoft. Conveniently it also became widely known on Thursday, that Nokia had bought Smarterphone, a Norwegian developer of smartphone OS to cheap mobiles, from Ferd Capital last November.
The other thing milking the advance is that we have been in a run-up to Las Vegas Consumer Electronics Show CES. According to The New York Times, Nokia plans to unveil high-end smartphone Lumia 900 for AT&T on Monday night press-event. According to digitimes.com report, Nokia has apparently decided to keep the production of Lumia 900 phones in-house.
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