Nokia (NYSE: NOK), which is already the leading manufacturer of Windows Phone devices, is set to maintain that dominance in 2013 with the release of the Lumia 620.
Industry sources have told DigiTimes that by launching the new smartphone -- which is priced at $250 -- sales of competing Windows Phone 8 devices (including those from HTC) will be affected.
Up until this week, Nokia had only revealed two Windows Phone 8 handsets -- the Lumia 920 and 820 -- both which were targeted toward high-end users who don't mind spending a small fortune for a new smartphone. In some territories, the Lumia 920 turned out to be one of the most expensive smartphones of all time. It is still cheaper than Apple's (NASDAQ: AAPL) iPhone 5, thanks to steep discounts from AT&T (NYSE: T).
By releasing a lower-cost phone that is designed for entry-level and mid-range consumers, DigiTimes said that Nokia could inadvertently force HTC and other manufacturers to release cheaper Windows Phone 8 handsets as well.
This indicates that while Nokia's marketing efforts may be dwarfed by that of Samsung and Apple, the company has succeeded in becoming the face of Windows Phone.
Microsoft (NASDAQ: MSFT) could change that in 2013 if it releases its own Windows Phone 8 device. While the company has not confirmed the existence of additional hardware, Microsoft CEO Steve Ballmer has hinted at the development of other products.
Microsoft is not the only company rumored to be getting into the smartphone manufacturing business. Amazon (NASDAQ: AMZN) is largely believed to be developing a smartphone for release in 2013. The Kindle phone is expected to use Google's (NASDAQ: GOOG) Android platform but could opt for another mobile OS, such as Windows Phone.
Shares of Nokia experienced a gain of more than four percent after the Lumia 620 was announced. However, it was not the new smartphone that inspired the market move -- rather, it was the sell of Nokia's headquarters in Espoo, Finland.
The Lumia 620 is expected to launch in Asia next month. It will arrive in Europe and the Middle East at a later date before being shipped to other territories.
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(c) 2012 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Tags: Lumia 620, Nokia
Posted in: News, Success Stories, Tech, Trading Ideas, Best of Benzinga
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