In response to the danger of unsecure public WiFi or network connections on smartphones, Symantec (SYMC: sentiment, chart, options) today revealed the launch of Norton Smartphone Security, a revolutionary mobile security solution for Windows Mobile and Symbian OS (TM).
The new technology will provide smartphones with protection from Web or email viruses that enable hackers to disable applications or access users' personal information. According to a SYMC press release, a U.S. survey of smartphone users concluded that 34% of respondents access their bank accounts via their mobile device, and 54% of respondents access Web sites requiring a password. The press release also notes that, according to Gartner, Inc., smartphones are estimated to overtake laptops by volume on a worldwide basis by 2008.
Symantec's philosophy is simply this: the more people are accessing sensitive information via smartphones, the more hackers will try to illegally obtain that information. The new firewall technology seems like a given.
Despite the seemingly pleasant news, SYMC's charts don't look nearly as pretty as its headlines. Speaking long-term, the stock has met support at the 22 level and resistance at 14.50 since late 2005. Currently, the equity is in one if its downtrends, trading at $16.98, 2.36% less than yesterday's close.
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