Microsoft share price: Tech giant to rebrand Lumia range

on Oct 22, 2014
Updated: Oct 21, 2019
Listen, Wednesday, October 22: Microsoft Corp (NASDAQ:MSFT), the world’s largest software company, is dropping the Nokia name with its Lumia range and rebranding as Microsoft Lumia, it has been revealed.

The Redmond-based tech giant announced the widely-expected decision yesterday on its Nokia France Facebook page: “In the coming days, you will receive a message from Facebook on the renaming of this page. We are about to become Microsoft Lumia,” the announcement said.
Technology-focused website The Verge later reported that Microsoft had confirmed that other countries would follow the rebranding steps in the coming weeks.

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In yesterday’s trading, Microsoft shares closed up 1.8 percent at $44.88. The company’s stock has risen nearly 20 percent since the start of the year.
**Not a surprise**
Microsoft has been dropping hints in recent weeks about its plans to rebrand the Lumia range. Media reports last month suggested that the company was planning to drop the Nokia name from promotional material for the devices during the upcoming holiday campaign.

The move hardly comes as a surprise since Microsoft was licensed to use the name only for a transitional period following its acquisition of the Nokia Devices and Services division of the once-mighty Finnish phone maker (being 10 years for feature phones, but only 18 months for smartphones). Nokia sans phones continues to operate as an independent company, now focused on network equipment, mapping software and patent licensing.

With its purchase of the Nokia handset business, Microsoft was plainly looking to position itself and its Windows platform as a major player in the mobile market, so it would appear to make eminent sense for the company to sever any connection with Nokia and focus on building its handset business around its own brands.

Reports in the media have surmised that Microsoft has also sounded the death-knell for the Windows Phone brand.
**Analysts on Microsoft**
According to the Financial Times, the 29 analysts offering 12 month price targets for Microsoft have a median target of $50.00, with a high estimate of $56.00 and a low of $34.00. As of 17 October 2014, the consensus forecast amongst 51 polled investment analysts covering Microsoft has it that the company will outperform the market. The same consensus estimate has been maintained since the sentiment of investment analysts improved on 15 September last, the FT notes.
**As of yesterday’s US close buy Microsoft shares at $44.88**
**As of yesterday’s US close sell Microsoft shares at $44.88**


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