Market Reacts To Nokia’s New Lumia Series, Shares Tumble

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News Posted: Thu, Sep 6 2012 8:53 AM
We're not sure exactly what investors were hoping Nokia would unveil yesterday, but apparently, the Lumia 920 and 820 weren't it. Following the much anticipated unveiling of two new Windows Phone 8 devices, Nokia shares took a bit of a mini-nosedive, sliding 16 percent to $2.38 at the end of the trading day on Thursday. That's the lowest it's been all year.

According to reports, Nokia's new devices didn't pack sufficient punch, and it also didn't help that the Finnish smartphone maker withheld specific release dates, pricing, and carrier information.

Nokia Lumia

"People were looking for something that would dazzle. Most investors will view it as evolutionary, not revolutionary. Nokia has made some good progress, but investors were looking for quantum leaps. We didn't get that," RBC analyst Mark Sue told Reuters.

What did Nokia did deliver, however, are solid new devices wrapped in bright colors. The Lumia 920 boasts a generous 4.5-inch IPS display, 1.4GHz dual-core Snapdragon S4 processor, 1GB of RAM, 8.7MP rear-facing camera with built-in image stabilization, 802.11n Wi-Fi, 7GB of free cloud storage via SkyDrive, and a few more features. Overall, Nokia's new phones look great and are very well spec'd, but evidently investors were expecting more.
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Since when are investors anything more that a bunch of nervous, knee-jerk type, douche bags? It could easily have been the lack of a black or white one listed in the promo pictures that started a stock slide... Investors are nothing more than clusters of cells in a giant jellyfish. That being said, Nokia probably should have given release dates and pricing at the least. For all we know this device is coming out in March 2013 at a $900.00 price tag.

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4L1G8R replied on Thu, Sep 6 2012 6:30 PM

Love the Meh kitty. I think I'll follow its lead for my stock inclinations.....seems at least as safe.... Stick out tongue

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JDiaz replied on Thu, Sep 6 2012 6:58 PM

Maybe, pricing does remain a big question but remember they aren't known for such high pricing but new hardware does bring that into question nonetheless. So we'll see...

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People are never happy its the way of the world right now hehehe.

Haters will hate.

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I got one loved the camera on the phone. I showed my wife and she loved it. She takes a lot of photos with her phone and they dont turn out too great sometimes.

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sevags replied on Fri, Sep 7 2012 5:07 PM

It's not just about expecting more and investors think they got less... Though it is clearly evolutionary and not revolutionary as the article says. Stock prices also fell for other reasons.... The Samsung WP8 specs and pics were out before Nokias new offerings and other than wireless charging (which to many of us is still a gimmick and not must have tech yet) their two models didn't offer anything exceptional over samsungs phone. Motorola also announced phones the same day even if not WP8 that analysts predict will outsell Nokias new lineup. Lastly a big reason for the stock dip is also due to the "pureview" branding fiasco.... After the announcement Nokia got a lot of bad press because the video they played highlighting the 920's camera features was really shot by a DSLR not a 920 including the image stabilization feature which was not only another camera but Nokia also admitted the feature is not ready yet and the group of writers who went and tested the actual 920 in low light weren't allowed to test the video stabilization feature. That's false advertising right there and though they wont be goin to court over it it does begthe question why did nokia have to lie? With this whole fiasco came the realization that te "PureView" branding referring to Nokias 808 with 41mp LARGE sensor that then reduces the pixel size of the image for a more manageable file size which achieves great pictures has now become a branding they will give any of their products that they feel has "superior" features than the competition. Samsung has. 10mp camera the new Nokia 9xx has an 11mp crew boom that's a PureView.

On top of all that there wasn't a date or carrier announced. The date is out now and the carrier is AT&T though I'm hearing there will be a Verizon version as well? There have been complaints about the colors as well, people are happy there are choices other than black or white but the only new color is the yellow that many people aren't liking and the Lumia 900's almost now trademark blue is missing from the 920 party.

The phone does seem to up the stakes on Nokias end as far as product offerings but from an analyst and investor standpoint September 5th didn't bring much good news in the way of stock price increases anytime soon.....

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