iQuit – Good News For Sony, Nokia And Samsung

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With the latest news that Steve Jobs has resigned as CEO of Apple going viral around the web, it has had a negative effect on Apple’s share price, currently sporting a 5% drop. Meanwhile, according to Bloomberg, Sony, Nokia and Samsung were among Apple rivals whose shares advanced during Asian and European trading amid speculation Job’s withdrawal may increase their ability to compete in products ranging from smartphones to tablet computers.

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Bloomberg report, “It’s going to give competitors a bit more of a lease of life to go out and compete harder,” said Richard Windsor, global technology analyst at Nomura International Plc. “It’s been thought about, talked about endlessly for the past several years that Tim Cook would probably take over so while you get an initial knee-jerk reaction on the downside, we would probably expect that not to last very long.”

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Sony climbed 2.1% in Tokyo, Samsung gained 2.4% and Nokia gained 2.4% in Seoul and 2% in Helsinki. Even HTC saw a rise of 1.4% in Taipei.

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We’re pretty sure that this is all just a kind of imprudent reaction and things should settle down providing the new management manages to sustain the level of innovation that Jobs has lead with since he began the transformation of Apple, in 2001 with the iPod.

 

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