Nokia’s share of the market has been dropping in the segment of the mobile phone market that is high-margin
January 15, 2013 – Nokia Corp, the Finnish smartphone maker, is hoping a new line of Lumia products will help it enter the smartphone market in India. The country is one of the fastest growing mobile phone markets in the world for sales volume. However, Nokia’s share of the market has been dropping in the segment of the mobile phone market that is high-margin.
Nokia remains the leading brand in sales for budget phones with over 22% of the market, followed by South Korea’s Samsung Electronics with 13%.However in the smartphone category, Nokia has been far behind. That market is dominated by Samsung in India with over 50% of the market, which far outdistances the 11% of Nokia.
Now, the firm based in Espoo, Finland is attempting to turn that around. Last Friday Nokia introduced the Lumia 920 into the market. The 920 is a competitor of Apple’s iPhone 5 and the Galaxy S III by Samsung. Apple also is revamping its strategy for sales in India to boost its small share in the market.
The Lumia 920, with a sticker price of $700 with no phone contract, runs on the Windows Phone 8 system by Microsoft and has a 4.5” screen with a 1.5 GigaHertz dual-core Snapdragon processor. Last week, at the phone’s launch Nokia said the new phone would rival the iPhone 5 and the Galaxy S III.
Two other new smartphones were launched by Nokia that run on the operating system Windows Phone 8. The Lumia 820 has a price of $500 and is available, while the Lumia 620 will be priced in February when it becomes available on the market.
Globally, the Lumia series by Nokia has helped the company deflect criticisms due to losing share in the global market and its declining profits. During the fourth quarter last year, over 4.4 million Lumia’s were shipped by Nokia.