Smartphone—Lumia 920 Essay

Submitted By braveteen
Words: 349
Pages: 2

Economics Weekly article #2
Microsoft and Nokia Unveil News Lumia Phones—NYTime.com

According to the New York Times, Microsoft and Nokia, the two companies that had been facing many obstacles in the smartphone market, unveiled a new smartphone—Lumia 920 in the market on Wednesday.

Jo Harlow, Nokia’s executive vice president said that the newly released phone is “the most innovative smartphone in the world.” Lumia 920 consists of four main selling points. First, it can take better photos and videos than any phone camera in the market. Second, it is capable to have wireless battery charging. Third, it can access to Nokia’s mapping database, which provides maps of over 200 countries in the globe.

It is the fact that Nokia’s American shares had been dropping for 11 percent after the phone had been released. However, Economic analysts were optimistic that this “most innovative smartphone” could grab the attention of phone buyers. To Nokia’s shareholders, the most crucial problem is whether the release of Lumia 920 can help Nokia to steal market shares from other competitors.

In my opinion, although there are only a few dominant sellers in the smartphone market, like Apple, Samsung, HTC, it is hard for companies like Nokia to get its magic back and dominate the market once again.

Under the oligopoly smartphone market, in order to compete, companies will have both price and non-price competitions. For price competitions, it is obviously due with the price. For…