) is set to launch a new Lumia 928 through the largest U.S.
). It is believed to be an attempt by the Finnish company to gain
a meaningful foothold in the high-margin smartphone market within
Lumia 928 is similar to Nokia's flagship Lumia 920 and
possesses a 1.5GHz processor, brighter 4.5 inch display and an
8.7 megapixel PureView camera with Carl Zeiss lenses that allow
sharp images even in low lights. The latest smartphone is 23
grams lighter than Lumia 920 and runs on
) Windows phone8 operating platform.
Lumia 928 is exclusive to Verizon Wireless and has been priced
at $99 after allowing a $50 mail-in rebate and a two year
contract. The smartphone will be offered in both black and white
and will be available in Verizon stores from May 16, 2013.
However, arch rival AT&T is offering refurbished Lumia 920 at
$0.99 with a two-year contract, while online retailer Amazon is
offering the phone at $19.99.
Previously, there have been talks between Nokia and Verizon
for a possible deal to offer the former's high-end smartphone
range, Lumia. Though nothing concrete has materialized, the deal
would enhance Verizon's smartphones offering and add a third
operating system to the iPhone and other Android-based
In the last couple of years, Nokia has fallen behind in the
smartphone leadership race, which has been mainly dominated by
) iPhone and Samsung's Galaxy range, which runs on
) Android platform. However, in the last couple of quarters,
Nokia has performed impressively based on a good show from its
Lumia series. At the end of first quarter the company sold 5.6
million handsets recording sequential growth of 27.3%.
Nokia has strategically priced the phone to target the sub
$100 smartphone market as carriers in the U.S. continue to slash
handset prices to attract customers. We believe that Lumia 928's
innovative features coupled with Verizon's leading LTE network
within the U.S. will beneficial for Nokia to draw additional
buyers for Lumia. Nevertheless, the Oslo-based company still has
to go a long way to expand its smartphone market share from the
Nokia currently carries a Zacks Rank #3 (Hold).
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