Nokia To Install Qualcom ChipsetZacks Investmentupdated May 24, 2011TweetAt GET.com we maintain complete editorial integrity on our content & provide transparent & unbiased information. Companies don't pay us to include their products although we receive a compensation when you successfully apply to products from our partners. See how we make money here.At GET.com we maintain complete editorial integrity.The leading mobile phone maker in the world, Nokia Corp. (QCOM) chipset. Nokia, in order to increase their chipset supplier base, is also in talks with ST-Ericsson, which is a joint venture between Ericsson and STMicroelectronics (STM). Qualcomm is the leading chipset developer in the world. Its next-generation Snapdragon processors supported by Krait architecture are generally used in Android-powered 3G smartphones. The new multicore processor provides speed up to 2.5GHz per core coupled with lower power consumption and better video streaming facilities. It is also believed that Verizon Wireless’ (VZ) CDMA-based iPhones will also support Qualcomm’s processors. Earlier this year, Nokia teamed up with Microsoft Corp. (MSFT) to install Windows Phone 7 software into their mobile phones in order to counter stiff competition from Google Inc’s (GOOG) Android-based smartphones and Apple Inc’s (AAPL) iPhones. According to the 5-year agreement, Microsoft will pay around $1 million to Nokia including an upfront payment and Nokia, in turn, will use its expertise in hardware design and language support to enhance the Windows Phone 7 platform in areas like imaging. Microsoft will also get a royalty of roughly $15 per handset from Nokia, once it starts to roll out the new Windows mobile phones in early 2012. Last month Nokia reported an impressive first quarter 2011 results. Quarterly net revenue was approximately $14,214 million, up 9% year over year and also above the Zacks Consensus Estimate of $13,751 million. Quarterly net income was approximately $470 million or 13 cents per share compared with $477 million or 13 cents per share in the prior-year quarter. The first quarter of 2011 adjusted (excluding special items) EPS of 17 cents per share was significantly above the Zacks Consensus Estimate of 13 cents per share. We, thus, maintain our long-term Neutral recommendation for Nokia. Currently, Nokia has a Zacks#3 Rank, implying a short-term Hold rating on the stock. APPLE INC (AAPL): Free Stock Analysis Report Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.