Nokia added nearly a $1 billion in market cap during Monday's trading session after a landmark patent ruling against rival Samsung Electronics sent shares higher on speculation that Nokia may have an opportunity to grab much needed market share. A federal court in Silicon Valley ruled late Friday that South Korean rival Samsung had copied key features of the iPhone handset and the iPad tablet and awarded Apple (AAPL) $1.05 billion in damages.
Commenting on the news, an analyst at Saxo Bank stated, “The Apple/Samsung ruling is positive for Nokia as this has the potential to change the competitive landscape [for the] short to medium term,” adding, "Nokia has been struggling to get their smartphone foothold as Apple and Samsung dominate the market."
Additionally, The New York Times noted that Nokia has gone against the grain and based its new smartphone line not on Google's (GOOG) Android but on Microsoft’s (MSFT) Windows phone software. That operating system is substantially different from Apple’s. However, sales of phones using the software have been slow, imperiling Nokia’s turnaround efforts.
Nokia (NOK : NYSE : US$3.26), Net Change: 0.18, % Change: 5.68%, Volume: 80,713,603