Mark Cuban has revealed that his usage of the Apple Inc. (NASDAQ:AAPL) iPhone 5 stopped once he got his hands on the new Windows Phone 8 device from Nokia Corporation (ADR) (NYSE:NOK) and Microsoft Corporation (NASDAQ:MSFT). The news is a symbolic win for Microsoft as tech firms await the revelation of holiday sales numbers.
Cuban, the well known owner of the Dallas Mavericks basketball team, revealed his love for the Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) handset in an “Ask Me Anything”, or AMA, thread on reddit.com. Much of the thread, which was opened on Christmas Eve, concentrated on the entrepreneur’s involvement in the television show Shark Tank.
Much like Research In Motion Limited (NASDAQ:RIMM) (TSE:RIM), Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) is entirely dependent on its current line of handsets to save it from almost certain oblivion. Sales figures have so far not swung investor sentiment too far in one direction or the other, despite analysts downgrades toward the end of 2012.
Shares in Nokia Corporation have risen by almost 20% in the last month. Investors are hoping that the firm benefits from a surge in sales over this holiday period. As we head into the first week of January, sales of electronic devices over the holidays should begin to become apparent.
Microsoft Corporation (NASDAQ:MSFT) chose Nokia to carry the torch of its smart phone line a long time ago, and kept the company afloat during the design and manufacturing periods. The company is also relying on a successful sales season in order to gain a place in the smart phone market.
Shares in Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) have not made any moves today, remaining flat at $4 at time of writing. Microsoft Corporation (NASDAQ:MSFT) shares had fallen slightly $26.84. That is a loss of about 0.79% on today’s opening price.
Microsoft Corporation (NASDAQ:MSFT) was given a second endorsement in Cuban’s AMA on Monday. The investor said that although he uses a Macbook Air from Apple Inc. (NASDAQ:AAPL), he was currently trying out a Windows 8 device from Acer.
Microsoft is hoping that phones, notebooks and tablets running their operating systems will be able to compete successfully against Apple Inc. (NASDAQ:AAPL) products in the same areas. Mark Cuban’s endorsement may not shake the market to its core but it is an indicator that the firm’s new devices are being appreciated.
Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) will be looking to comments like Mark Cuban’s for inspiration as they head into a difficult period. The company released its Q3 2012 earnings report on October 18th. Its fourth quarter results are expected to be announced in January. Those results are likely to provide the first key insight into the firm’s smart phone performance.
For a company with declining sales and little expectation of immediate release from a large debt burden, Nokia Corporation is doing remarkably well heading into 2012. Investors are buoyed by reactions to the company’s products, like Mark Cuban’s.
Cuban did however reveal that during the course of Shark Tank, the investors were involved in heavy product placement of T-Mobile devices. His endorsement of Nokia Corporation smart phones might belie an interest not just in their products, but in their stock.
