Nokia has a lot riding on its new Lumia 920 smartphone, designed to be the most powerful platform running Microsoft’s Windows Phone 8 operating system. But investors were unimpressed with the roll out this morning. Nokia’s stock is -10% after the company and Microsoft introduced what the companies say is “the world’s most innovative smartphone.” The electronics company has struggled to keep up with Apple’s iPhones and mobile devices running Google’s Android system. Nokia and Microsoft seemed to have an opening to gain market share after Apple became embroiled in patent infringement battles with Samsung, especially over its Android phones. Nokia shares appreciated more than 11% over the last month. Much of that evaporated today: While the Lumia 920 has several potentially impressive features, it doesn’t seem to be enough to lure many consumers away from the more popular Apple and Android platforms. Nokia says that its camera has a stabilizing feature that improves the ability to take photos in low light, and smooths video shots. Its map and navigation system will also work when users are not connected to the Web. The Qualcomm Snapdragon S4 processor should make the phone’s battery 30% more efficient than its rivals. The phone also comes with built-in wireless charging; the battery can be powered-up by placing it on a pad that’s connected to a power source. Microsoft CEO Steve Ballmer called the phone “a very important milestone” for his company’s effort to become more potent in the mobile market. Apple’s expected to introduce its iPhone 5 next week.
Nokia Shares Fall After Company Unveils Flagship Smartphone With Microsoft
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