Vladimír Urbánek (Kurzy.cz)
World markets  |  December 06, 2012 14:30:36

Apple overtook Nokia, China Mobile will sell its Lumia 920T, Nokia shares + 10%, -6% Apple


Apple shares yesterday fell by more than 6%, which was the most since December 2008, in response to the report that the dominant Chinese telecom operator China Mobile has partnered with Finnish Nokia and start selling its smart phone Lumia 920T.
Title yesterday erased 34.9 billion-USD market capitalization, which is the highest since 1988.

Apple has so far entered into a partnership with China's number two and number three China Telecom China Unicom. Partnership with China Mobile requires further discuss the details regarding the sharing of benefits.

Apple shares now trade at a discount to 39% compared to the average PE in the Nasdaq Composite Index. AT the end of September was only 5% discount.

Shares of Nokia has responded to yesterday's message bouncing by almost 10%.
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