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Friday, September 7, 2012

Nokia launches 'last chance' phone

Published on Sep 5, 2012 by Euronews : Nokia is unveiling its most powerful smartphone ever on Wednesday in what may be the struggling Finnish company's last major shot at winning back a market lost to Apple, Samsung and Google.

The stakes are high for both Nokia and Microsoft. The new Lumia runs the latest Windows Phone operating software which Microsoft hopes will rival Apple's iOS and Google's Android which currently dominate the market. If the new phones do not appeal to consumers, it could spell the end for loss-making Nokia and deal a serious blow to Microsoft's attempts to regain its footing in the market.

Nokia has posted more than three billion euros in operating losses in the past 18 months, forcing it to cut 10,000 jobs and pursue asset sales. Its share of the global smartphone market has plunged to less than 10 percent from 50 percent during its heyday, before the iPhone was launched in 2007. Windows phones have only captured 3.7 percent of the global smartphone market, according to Strategy Analytics. Android phones have 68 percent, while Apple has 17 percent.