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