Nokia Share Price: Phone Maker Reveals Bigger-Screen Version of Budget-Friendly Lumia

on Jul 23, 2013
Listen Tuesday, July 23rd: Mobile-device manufacturer Nokia (HEL:NOK1V) had introduced a bigger-screen version of its low-price Lumia smartphone targeted at developing economies, the Finnish company said in a statement today.

Nokia Lumia 625 is powered by the latest version of Windows Phone 8 and comes with the ability to connect to the speedier fourth-generation wireless networks. The new device also has a 4.7-inch LCD screen, compared to the 3.8-inch screen of its predecessor Lumia 620, released late last year.
According to the group’s statement, Nokia plans to start selling the new Lumia 625 this quarter in emerging markets including Asia, Africa and Latin America, with an estimated retail price of €220 before taxes and subsidies.

The new Nokia Lumia launch comes as the Finnish phone maker strives to regain market share lost to U.S. rival Apple (NASDAQ:AAPL) and South Korean major Samsung Electronics (KRX005930). Nokia’s Chief
Executive Officer Stephen Elop is trying to accelerate the company’s turnaround by adding accessibly-priced Lumia devices with demand for high-end handsets slowing. Finland-based Nokia, once the world’s biggest mobile phone maker, has lost more than €5 billion in nine quarters as consumers turned to devices made by competitors.
**The Nokia share price in Helsinki traded 0.33 percent higher today, standing at €3.03 as of 11:39 BST. The stock has gained 3.76 percent since the beginning of the year, but is down almost 90 percent in the past six years.**