Nokia's Lumia phone disappoints investors
By The Week Staff | September 5, 2012
Nokia's Lumia smartphone on display in April: The cheaper smartphone offering didn't boost the struggling company's sales as both Nokia and Microsoft had hoped.
Francis Dean/Corbis
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innish phone-maker Nokia's share price fell 16 percent on Wednesday, after it debuted two new smartphones that use Microsoft's Windows Phone 8 operating system. The Lumia 920 and Lumia 820 feature advanced mapping and location services, boast high-tech cameras, and will run on high-speed fourth-generation networks. But investors were disappointed that Nokia didn't announce any new partnerships with major carriers like AT&T, and withheld the phones' prices and release dates. Nokia has fallen far behind Samsung and Apple in the smartphone market, and analysts say the Lumia may represent the struggling company's last chance to turn its fortunes around.
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