by Christopher Freeburn | September 4, 2012 12:06 pm
Struggling cell-phone maker Nokia (NYSE:NOK) is giving streaming music another try.
The Finnish company will launch a new free music service in the U.S., called Nokia Music. The service won’t have advertisements, but will offer 150 pre-set playlists, including some created by popular musicians like Lady Gaga and Rihanna. It will also advise users of nearby live music performances, TechCrunch noted.
This will be Nokia’s second attempt at free music streaming. An earlier effort, Ovi Music Unlimited, proved unsuccessful.
Shares of Nokia rose more than 2% in Tuesday midday trading in New York.
A company release indicated that the new music service will provide exclusive content for AT&T (NYSE:T) subscribers.
Nokia is set to unveil a new slate of Microsoft (NASDAQ:MSFT) Windows-based smartphones at an event in New York tomorrow. The company registered some success with its Lumia 900 Windows smartphone earlier this year.
An app for the new music service is available for its existing Lumia 900 and 710 phones. Nokia may make the app available for all Windows phones, in an effort to promote the smartphone operating system against Apple‘s (NASDAQ:AAPL) iOS and Google‘s (NASDAQ:GOOG) Android platforms.
Last week, Leap Wireless (NASDAQ:LEAP) said that it was restricting its Muve Music streaming service to Android-based smartphones only and would fold the monthly subscription cost into its service plans.
Source URL: http://investorplace.com/2012/09/nokia-launches-new-music-streaming-service/
Short URL: http://investorplace.com/?p=225956
Copyright ©2013 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.