Is this the beginning of a comeback for Nokia, once the world's biggest name in mobile phones?
Nokia's Lumia 920 – the Finland-based company's new flagship smartphone, aimed at both the general consumer and the business user – went on sale in early November, but was a bigger hit at U.S. retail outlets on Black Friday, Nov. 23. The 920 was "completely sold out by midday," according to Trip Chowdhry, managing director of equity research at Global Equities Research, as quoted by NASDAQ.
Struggling in seventh place behind Apple, Samsung and a handful of other global manufacturers, Nokia has had trouble competing in recent years because the smartphone revolution seemingly had passed it by. The company's stock has dropped by one-third in the past year. But a partnership with Microsoft and the Redmond, Wash.-based computer giant's Windows Phone operating system aims to improve Nokia's position.
Fans of Nokia and Microsoft shouldn't get too excited about the sales report just yet. The two companies first announced their partnership in 2011, rolling out the first smartphones based on Windows Phone 7 a few months later. While a couple of the devices had strong initial sales, they quickly faded from lists of top selling handsets.
That being said, there seems to be more buzz surrounding Windows Phone 8, Microsoft's latest mobile operating system update. Add to that the fact that the companies – particularly Microsoft – appear to be pumping a lot of money into marketing campaigns this holiday season.