Nokia Shares Fall Following Windows Phone 8 Launch
Manufacturer’s shares plummet on the back of announcement of its first handsets to run off the new operating system powered by Microsoft.
Nokia’s shares fell 13 per cent yesterday as its first two smartphones running off the Windows Phone 8 operating system failed to inspire investors.
The manufacturer’s shares in Helsinki began sliding halfway through the unveiling of the products at Nokia World in New York, closing at €1.99 per share. It represented Nokia’s biggest single day loss since June.
This was despite its shares rising by 67 per cent as anticipation grew in the days and weeks leading up to the announcement. In addition, Nokia’s US-listed stock was down almost 10 per cent to $2.55 per share.
Nokia unveiled the Lumia 820 and 920, its first two handsets to run off the new Microsoft-powered operating system.
The Lumia 920 – the higher specified of the two – is powered by a dual-core Snapdragon S4 processor and has a 4.5-inch touchscreen, 8.7-megapixel camera and 32GB of internal memory.
Nokia said using its PureView technology and ‘floating lens’ the handset’s camera will let in five times more light than most top-end smartphone cameras without the use of a flash. The Lumia 920 also uses Nokia’s latest location tool, ‘City Lens’, which overlays information about local outlets when pointed down a street.
The Lumia 820 is powered by the same processor as the Lumia 920 and has a 4.3-inch touchscreen, eight megapixel camera and 8GB of internal memory.
Both handsets can charge wirelessly on accessories such as wireless pillows and docking stations, along with charging plates that can be found in coffee shops in locations such as Heathrow Airport.