Nokia's shares fell almost 14% to $2:80 and are perhaps tittering close to the edge of collapse after sustaining heavy losses in the last quarter earnings report.
Their new product called Lumina looks like a poor relation to the smart phones of Samsung and Apple. But Nokia may be able to market this anticipated cheaper version successfully to Asia, Africa and Latin American countries. But that can only materialise through a carefully planned marketing and pricing strategy; which it currently appears to have lacking as no prices or marketing plans for the product have been forthcoming at it's launch yesterday.
Perhaps Nokia's new smart phone will be perceived as a cheaper and less capable version of Android. Expect Nokia to down-size until it comes up with more original ideas to WoW this extremely volatile consumer market.
