In an attempt to regain its old place in the world’s largest mobile market, Nokia is reportedly planning to make a joint business venture with the mobile operator giant China Mobile, a reliable insider reported Wednesday.
China Mobile will start selling Nokia’s flagship phone Lumia 920 to its over 700 million subscribers. Apple, who plans to bring in the iPhone 5 weeks from now, has surprisingly no contract with China Mobile – the world biggest carrier.
The landmark deal with China Mobile immediately paid off for Nokia, whose shares jumped by 8.7 percent at 2.75 Euros on the Helsinki stock market.
“It is not a surprise, but it still means a giant opportunity for Nokia, maybe one of the best opportunities for its smartphones right now. This market has a lot of piled-up demand for high-end smartphones,” Nordea Markets analyst Sami Sarkamies said.
Nokia seems to start turn things around after losing its grip to Apple in several key mobile markets in the world. In fact, the company will be releasing a much cheaper phone next year to cover all possible markets.
Nokia provided some key insights about its much anticipated a budget-friendly Windows 8-powered phone to be released in early 2013.
The Nokia Lumia 620 will reportedly feature smooth rounded corners and bright colors, hoping these exterior designs will help draw more customers when the lower-end phone is launched in January 2013.
The Initial pricing of Lumia 620 is pegged at only $249, though the 3G model phone offers a wide variety of great features, including 3.8-inch screen, back camera capable of shooting 720p video, IGHz dual-core Snapdragon S4 processor, a 5-megapixel front camera with video chat, loudspeakers, and near-field communications (NFC) technology.
“With the 620, we wanted to introduce some bold blends,” Ahtisaari said. “We use a technique called dual-shot application of color, with an opaque layer underneath then a translucent layer above.” A yellow base becomes lime green with a cyan cover and orange with a red cover, for example.
The Lumia 620 is scheduled to be shipped first in Asia, Europe, the Middle East, and Africa before it hits the North American market.