Nokia May Tumble Further After Lumia Mess
Nokia (NOK) investors are disappointed again. Shares declined by 13% after it failed to impress investors ollowing announcement of its new Lumia 920 smartphone. The new Lumia will run under Microsoft’s (MSFT) Windows 8 platform. This could be the last major shot to reclaim its market share lost to Apple’s (AAPL) iPhone, Samsung Electronics and Google’s (GOOG) Android. Based on the latest second quarter 2012 Gartner data, Microsoft Windows phones have a market share of 2.7%, higher than the 1.6% market share of the previous year. Android devices and Apple’s iOS still command the biggest chunk of mobile devices with market share of 64.1% and 18.1%, respectively.
The device sports bright colors and carries a bigger screen. It also has a technology that reduces blur and shakiness in pictures and videos. Despite the big improvement in the phone’s interface and design, it failed to impress savvy investors. According to some analysts, it lacked positive surprises and a “wow” factor. It also did not set specific launch dates on the products. There are rumors that it will begin offering Lumia 920 in November; this would be in time to catch as many sales as possible during the holiday season. It seems that the Windows Phone 8 devices that the company launched look similar to the previous Nokia devices.
This is one of the reasons why analysts have been unimpressed and concluded that it would have a tough time against the very popular Samsung Galaxy S3, as well as the recently launched iPhone 5. To continue reading, click here.