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Nokia's Lumia Launch Instigates Share Price Slump

Nokia's Lumia Launch Instigates Share Price Slump

Stephen Elop, Nokia's Chief Executive, unveiled two WP8-based phones during the Nokia World event held at New York yesterday. The mobile phone maker evidently has high hopes for the Lumia 920 and slightly smaller Lumia 820, hoping they would be deemed as worthy opponents against the wave of Apple and Google phones entrenched in the smartphone industry.

But all is not well for the Finnish firm, as its share prices dropped by more than ten percent during the announcement, as investors mulled over the firm's mobile strategy. An hour after the event has kicked off, Nokia's share prices continued to plummet 11.48 percent, down to US$2.51 per share. Might this be a sign that investors aren't too pleased or confident towards the Nokia and Microsoft tie-up? Time will tell if Nokia's shares would recover, and more importantly, if the WP8-loaded Lumia phones will be well received by the masses.

The Lumia 920 supports inductive wireless charging, which also happens to be one of the phone's coolest features. Just place it on a charging mat like the Fatboy pillow (as shown in the picture above) and it's ready to be juiced up. The smaller 4.3-inch Lumia 820 comes in a wide array of colors, including red, yellow, grey, cyan, purple, white, and black. According to Elop, the phones would go on sale in the fourth quarter in "select markets".

Source: The Telegraph and The Daily Mail

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