Microsoft Corp. share price, launches the Cortana voice-search service to compete with Apple’s Siri

It looks like Microsoft Corp. is making everything possible to get back in the competition of mobile devices and catch up with its major rivals Apple Inc. and Google Inc. The company revealed that its Windows Phone software was updated and explained that it features a special voice-search application, called Cortana. The company also announced that its Windows operating system will be free of charge for mobile devices with less than 9-inch screens.

One of the analysts, who work for FBR Capital Markets & Co. – Mr. Daniel Ives, wrote in a note, which was cited by Bloomberg: “Reinvigorating the Windows franchise continues to be a key ingredient in Microsoft’s recipe for success as it looks to offset headwinds from the secular challenges in the PC market.”

At its Build conference for developers that took place in San Francisco, Microsoft Corp. presented the Cortana voice-controlled digital assistant, which is going to be included in the improved Windows Phone 8.1 package for mobile devices. Cortana will be a hybrid between the best characteristics of the Now service of Google Inc. and the Siri service of Apple Inc., which is considered as the most serious competitor of Microsoft Corp.s new application.

The new Cortana voice service is included as a beta feature in the upcoming updated version of Windows Phone 8.1. It will also be compatible with some older models of mobile devices, which work under the Windows operating system. Microsoft revealed that the voice-search application will be provided with an access to customers location, calendar, e-mails, Web searches and address book in order to be able to “predict” the needs of the companys users.

Microsofts Cortana service is considered a worthy competitor of Apples Siri, but it will include some characteristics that Siri lacks. The voice-search application will also be available for usage as a reminder of important events and will provide the clients of the company with a better control over customization.

Microsoft Corp. fell by 0.17% to $41.35 per share on Wednesday, marking a one-year change of +43.58% and a market value of $343.79 billion. According to CNN Money, the 28 analysts offering 12-month price forecasts for Microsoft Corp. have a median target of $39.90, with a high estimate of $47.00 and a low estimate of $29.00. The median estimate represents a -3.51% decrease from the last price of $41.35.