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.