Analyst Eoin Lambe gives shares of Nokia Corporation a Buy rating as he expects demand for the companyâ€™s Lumia 920 to remain strong through the last two weeks of this quarter and into next quarter. He said Nokia seems to have solved problems with its supply chain, and the phones are now back in stock at retailers all over the globe.
Nokia Corporation (NYSE:NOK) shares are expected to see an increase in share price as demand for the Nokia Lumia continues to be strong. According to Rob Samson from The Economy News, Liberum Capitalâ€™s Eoin Lambe maintained his Buy rating on shares of Nokia Corporation (NYSE:NOK) (HEL:NOK1V)Â as the company overcomes its supply issues for the handset.
Liberum Capital reported that the Lumia 920 is now available at a number of the locations around the globe after the companyâ€™s initial stock of the handsets ran out. In the U.S. the Lumia 920 is now available for 24-hour shipment on Amazon Wireless, which Lambe believes was the place where most buyers ordered it when it initially went on sale in early November.
Within the last day, it appears that the Lumia 920 suddenly became available once again. Lambe reported believes that demand for the phone will be high once again in the last two weeks of the quarter, even going beyond his current 3 million unit estimate for the fourth quarter.
In addition he also believes 2 million units of the other Lumia models will also be sold, and he expects demand for all phones in the Lumia series to remain strong into the first quarter of 2013, especially because the phones will be shipping in large quantities to China and other markets which will begin offering the handsets in that quarter.
Shares of Nokia Corporation (NYSE:NOK) (HEL:NOK1V)Â were trading only slightly higher in pre-market trades at the New York Stock Exchange. The stock rose to about $3.88 on Friday before declining to around $3.80 per share.