Yesterday Nokia unveiled the new Lumia 920 smartphone, and today investors grabbed their heads. In just one day, the company’s shares on the Helsinki Stock Exchange collapsed by 15%.
Since mid-summer, the market has been waiting for innovations, revolutions, bright solutions from a Finnish company, and the share price has been growing along with expectations. But after yesterday’s presentation of the Lumia 920, the company’s shares fell by 15% overnight.
The Wall Street Journal explains the reason for the fall in unjustified expectations of users who hoped to see a unique gadget of the iPhone level from Apple. In turn, the “most innovative smartphone in the world” turned out to be not so innovative. There was no breakthrough.
Experts believe that the device will not only not become a hit product, but in principle, it will not cause much delight among users. As Mark Sue, an analyst at RBC, notes, “the problem is that the world is working on the fourth, fifth or sixth generation of its smartphones, while Nokia is still trying to rediscover the first chapter. She still needs to catch up.”