Reports Signal High Demand for Nokia's Lumia 920 Flagship Smartphone

Date : 11/19/2012 @ 8:30AM
Source : Dow Jones News
Stock : Amazon.Com, Inc. (MM) (AMZN)
Quote : 982.91  -3.7 (-0.38%) @ 8:00PM
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Reports Signal High Demand for Nokia's Lumia 920 Flagship Smartphone

Nokia (NYSE:NOK)
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   By Sven Grundberg 

STOCKHOLM--Nokia Corp.'s (NOK) new flagship smartphone, the Lumia 920, appears to have sold out in Germany and has taken the second spot on Inc.'s (AMZN) list of top-selling mobile devices with contracts.

According to Amazon's sales chart, which is updated hourly, the black version of the Lumia 920, which is sold exclusively by AT&T Inc (T) in the U.S., is the second-best selling device in the country, after Motorola's DROID RAZR MAXX HD 4G.

Meanwhile, Nokia's German Facebook page, Nokia Deutschland, Friday published a post notifying potential buyers that the new Windows-running Lumia 920 is out of stock in many stores.

"We have been notified that due to high demand, the Lumia 920 has already sold out in many stores," Nokia wrote on the Facebook page, adding that the company is currently working on making it available as soon as possible.

The apparent high demand for the Lumia 920 device spurred a rally in Nokia shares, which were trading 6.3% higher at EUR2.24 at 1224 GMT Monday.

Although the reports could suggest the embattled Finnish handset maker may be making a revival, Michael Schroder, an analyst at Finnish investment services company FIM, warned against reading too much into them.

"We still can't say anything about the actual volumes," he said. "While interest in Nokia's new device seem to be high, the fact that it has sold out in Germany could also be a result of modest supplies."

Nokia is counting heavily on its new Lumia smartphone line, powered by Microsoft Corp.'s (MSFT) latest Windows software for smartphones, to regain lost ground. In the U.S., AT&T sells Nokia's Lumia 920 for $99.99 on a two-year contract, undercutting rival smartphones such as Apple Inc.'s (AAPL) new iPhone 5 and Samsung Electronics Co.'s (005930.SE) Galaxy SIII.

Niclas Rolander contributed to this report.

Write to Sven Grundberg at; Twitter: @svengrundberg

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