Finnish handset manufacturer Nokia Corporation ( NOK ) has launched Lumia 1025 and 625 smartphones in Canada. Both the Windows 8-based devices are integrated with ultra-fast 4GLTE technology.
The handsets are available on Rogers Communications Inc. ( RCI ) and Telus Corporation 's ( TU ) network. Lumia 1020 will cost around $199 and is available in yellow and black with a two-year contract.
The Lumia 1020 is powered with 41 MP camera and PureView technology. It also features Qualcomm Inc. 's ( QCOM ) 1.5 GHz dual-core S4 processor with wireless charging facility.
Lumia 625 is available for free from Telus with a contract period. It features Nokia's HERE mapping technology and free music streaming facility. It is integrated with 5 MP camera and a 1.2 GHz dual-core Snapdragon processor from Qualcomm that supports better graphics.
Recently, Microsoft Corp. ( MSFT ) decided to acquire Nokia Corp.'s handset business for $7.2 billion (5.44 billion euros). The deal is expected to close in the first quarter of 2014, subject to approval by Nokia's shareholders and regulators.
Earlier, Nokia had teamed up with Microsoft to offer Windows-based Lumia handsets. However, stiff competition has resulted in continuous deterioration of its handset business.
In the second quarter of 2013, Nokia shipped 7.4 million Lumia smartphones as compared with Samsung and Apple's ( AAPL ) 71 and 32 million smartphone sales, respectively. During the last few months Nokia has launched many handsets in both categories smartphones and feature phones. So it is to be seen whether the company would able to recoup its struggling handset business.
Nokia currently carries a Zacks Rank #3 (Hold).