Market Overview

Nokia Lumia Sales Rise 27% as Company Preps New Phablet

Nokia (NYSE: NOK) has announced that it sold 5.6 million Lumia devices in the first quarter, representing a 27 percent increase over the previous quarter.

While these sales are still significantly lower than Apple's (NASDAQ: AAPL) iPhone or Samsung's various Galaxy handsets, Nokia has shown unprecedented strength during the drowsy winter shopping season.

Comparatively, Apple's second 2013 fiscal quarter sales (which will account for the January-March sales period) are not expected to exceed the company's record-breaking Q1 sales (which accounted for the October-December sales period).

This does not necessarily mean that Nokia's phones are growing in popularity at a faster rate than the iPhone. Rather, it might simply be that the iPhone has gathered so many early adopters that there are fewer available to purchase the device at a later date. Meanwhile, Nokia has only just begun to acquire new customers, so its growth rate may appear to be faster.

According to the Financial Times, Nokia is currently developing a number of additional smartphones. While none of them may turn out to be a summer blockbuster, they could prove to be healthy additions to the product portfolio that help the company grow over time.

One of them is said to be a phablet. Little is known about the contents or size of that device, but it is expected to be a competitor to Samsung's Galaxy Note II, which contains a 5.5-inch display.

As large as that may be, the Galaxy Note II is not Samsung's biggest phone. Earlier this month the company unveiled the Galaxy Mega, a 6.3-inch behemoth that dwarfs virtually every other phone available.

For those who think the 6.3-inch model is too large, Samsung also offers a 5.8-inch Mega.

In addition to the Lumia phablet, Nokia is also rumored to be developing a Lumia device that will contain the same 40 Megapixel PureView camera that came with the Nokia 808 PureView phone.

Louis Bedigian is the Senior Tech Analyst and Features Writer of Benzinga. You can reach him at 248-636-1322 or louis(at)benzingapro(dot)com. Follow him @LouisBedigianBZ

Posted-In: Financial Times Lumia NokiaNews Rumors Success Stories Tech Best of Benzinga

 

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