Microsoft (MSFT), Nokia (NOK) Deal Vastly Underrated

It's somewhat surprising the ignorance displayed by some analysts and investors commenting on the deal between Nokia (NYSE:NOK) and Microsoft (NASDAQ:MSFT) to use Windows Phone 7 as the platform of choice for its smartphones.

The only legitimate concern is the short term effects, which will leave Nokia somewhat barren of product releases until they get things ramped up with Microsoft.

Original projections they probably won't release something significant until 2013 has already been refuted by both companies, which are confident enough to say they might even have something ready by next Christmas shopping season.

If they don't, both said they'll have significant product volume out in 2012.

A lot of people don't know that Google (NASDAQ:GOOG) had aggressively pursued a deal with Nokia, understanding the tremendous benefit of partnering with them using their Android platform.

While there can obviously be execution problems, assuming both companies are on their game, this will probably be considered an extraordinary deal for both companies years from now. Short term? Not so much.