Nokia shares dropped dramatically Wednesday as the company made its Lumia 920 official.
The company’s new Windows Phone was meant to carry the Finnish smartphone maker and Microsoft forward in their battle for smartphone market share. Investor reaction casts doubt on whether Nokia can pull off the revolution that it wanted, particularly as Samsung and HTC move to play up their Windows Phones.
Shares dropped as much as 13 percent and were trading nearly 10 percent down for a share price of $2.55 at noon.
The phone includes a PureView camera that’s designed to stabilize itself and decrease blur. Meanwhile, the touch screen is designed to work even when the user is wearing gloves.
The smartphone also has an inductive charger, meaning you can set it on a charging plate instead of fumbling with a micro-USB port and trying to decide which way is up. (The phone does still have a port, though, for charging and data.) The Lumia 920 also shows evidence of its Windows Phone 8 DNA, with the ability to sync with SkyDrive as well as Windows tablets. Lumia phones also come with full versions of Microsoft Office and Outlook, meaning users will be able to use PowerPoint, Excel and Word on the go.
On the specifications side, the Lumia 920 measures just .4 of an inch thick with a 4.5-inch display. It has a near-field communications (NFC) chip. As expected, it sports a dual-core Snapdragon S4 1.5 Ghz processor and 32GB of on-board memory plus 7GB in the SkyDrive.
It shares the same blocky design of the 900, but in a new range of colors. Nokia was showcasing the phone in red, yellow, silver, white and black.
The company also announced the Lumia 820, which comes with different-colored charging shells and matching headsets in red, yellow, white, blue, purple, gray and black. The shells fit around the phone’s 4.3-inch screen.
The 820 also has a Snapdrgaon S4 1.5 GHz dual-core processor, with 8GB of on-board memory and 7GB of storage in SkyDrive. It’s slightly thinner than the 920, coming in with a width of just .3 of an inch.
Nokia did not announce release or pricing information Wednesday.