Beleaguered mobile device manufacturer Nokia Corp. (NOK - Free Report) is expected to unveil its first tablet on Oct 22, 2013 at an event in Abu Dhabi. Recently, the U.S. Federal Communications Commission (FCC) has approved Nokia’s tablet, which will run on Windows operating system developed by Microsoft Corp. (MSFT - Free Report) .
The device will provide 4G LTE network support for bands 2, 4, 5, 13, and 17 together with HSPA+ and GSM/EDGE networks. This tablet will be operational for three major wireless operators in the U.S.: Verizon Communications Inc. (VZ - Free Report) , AT&T Inc. (T - Free Report) and T-Mobile US Inc. (TMUS - Free Report) .
Nokia has decided to launch 6 new handsets on Oct 22. One major device will be Lumia 1520 phablet (tablet with phone facility). This device will run on Qualcomm Inc. (QCOM - Free Report) developed next-generation quad-core Snapdragon 800 processor. This device will also feature 2GB of RAM, 32GB of built-in storage facility, a nano SIM, a microSD card slot, a 20-megapixel rear camera and a 6-inch full-HD display.
Nokia has entered into an agreement to sell its Mobile Devices and Services segment to Microsoft for approximately $7.2 billion. The deal expected to be closed by the first quarter of 2014. Nokia has provided a grim outlook for the third quarter of 2013 and has declared that its Devices & Services operating margin to be approximately negative 2%, plus or minus 4%.
In 2012, the company lost its market leadership position to Samsung in the global mobile phone market. Samsung’s smartphones based on Google Inc. developed Android operating systems significantly impacted Nokia’s market share. The Oct 22 event will be the last important show for Nokia regarding its mobile devices before this division gets divested to Microsoft. Nokia currently has a Zacks Rank #3 (Hold).