Will Nokia's High Prices Kill the Lumia 920?

Nokia (NYSE: NOK) has announced that it will charge more than $800 for the Lumia 920 in multiple nations. According to BGR, the device will retail for $801 in Russia and $836 in Germany.In Sweden, Reuters reported that consumers will pay $860 to purchase the new smartphone.This is an unusual strategy for Nokia to take. The company has been struggling to revitalize its smartphone business, which has all but perished with the rise of Apple's (NASDAQ: AAPL) iOS platform, along with Android from Google (NASDAQ: GOOG). Nokia, which develops almost exclusively with the Windows Phone 7 and Windows Phone 8 platforms from Microsoft (NASDAQ: MSFT), has spent the last several months unveiling a unique collection of innovative products. When the Lumia 920 is released next month, it will be the only smartphone that features wireless charging built into the device.The Lumia 920 is also the only smartphone that can be used while wearing gloves, thanks to a "super sensitive" touch screen. All Lumia Windows Phone 8 devices will ship with full versions of three popular Microsoft programs, including Office, Outlook, and Internet Explorer 10.If Apple had designed the Lumia 920, iPhone fans would be eager to buy one. But the Cupertino, California-based tech giant was not the designer. While Nokia was hyping its plans to change everything, Apple was hard at work on the next-generation iPhone. Without a contract, U.S. consumers can purchase a 16GB iPhone 5 for $599. Compared to the Lumia 920, that seems like a bargain.According to Reuters, the Lumia 920 will be 25 percent more expensive to European consumers than Samsung's Galaxy S III. Nokia has not yet announced how much it plans to charge for the smartphone when it is released outside of Europe.Follow me @LouisBedigianBZ