World Bulletin / News Desk
Nokia will start selling its new smartphone, potentially its last chance to break into the most profitable part of mobile phone market and secure its future, in November, sources at European telecoms operators said on Friday.
The Lumia 920, which uses Microsoft's Windows software, is Nokia's attempt to catch up with Apple's iPhone and a string of popular phones using Google's Android software, like Samsung's Galaxy models.
The new phone, which with its rounded edges and colourful covers look similar to its predecessors, was unveiled on Wednesday and drew a thumbs down from many analysts, who felt it lacked the "wow" factor to make big inroads against rivals.
They were also unsettled by Nokia's refusal to say when the phone, and the smaller Lumia 820 models, would go on sale, or to give details on the price and operator partners.
Once the world's biggest mobile phone maker, Nokia fell behind rivals in the fast-growing smartphone market and has struggled to catch up, racking up more than 3 billion euros in operating losses in the last 18 months and forcing it to cut 10,000 jobs, as well as pursue asset sales.
By going on sale in November, the Lumia 920 will hit stores in time for the key holiday sales season.
But it will probably be more than a month after Apple's new iPhone and will also face stiff competition from Samsung, which last week unveiled the world's first Windows Phone 8 model, as well as new models from HTC and Google's Motorola.
An executive at an eastern European telecoms operator said he would start selling the Lumia 920 - which features a high-quality camera and touch screen that can be used with gloves - in the second half of November, adding larger countries would receive the model earlier that month.
"The problem is that Nokia has temporarily destroyed the market for its own phones. Nobody will buy the old Windows phone and until the new Lumia comes, the market is absolutely dead," the executive said, declining to be named because he was not authorised to speak to the media on the subject.
Industry sources said on Thursday that Nokia had cut the prices of its older smartphones.
Analysts expect the Finnish firm to lose another 700 million euros in the July-September quarter and to sell around 3.6 million Windows phones, down from the last quarter.
In comparison, Samsung sold more than 20 million units of its flagship Galaxy S3 smartphone in just 100 days.
Samsung has become the world's largest smartphone maker as Nokia's share of the market has plunged to less than 10 percent from 50 percent during its heyday before the iPhone was launched in 2007.
A Nokia spokesman declined to comment on Friday on when the Lumia 920 would go on sale.
Russia's oil output stands at over 10 million barrels per day, the world's largest, but it needs new sources of crude oil, including hard-to-recover deposits and the Arctic, to sustain this level
The strike at Yue Yuen is not just one of China's biggest in recent years, it's also more clearly driven by workers' fears that they have been scammed by an opaque and convoluted welfare payment system.
When the system is in place citizens will be able to buy a limited amount of subsidised fuel, and will have to pay a normal, market price for any extra quantities.
Production in Upper Nile state's Paloch oilfields, where output has not been hampered by the conflict, stood at 159,000 barrels per day this week.
Dragomir Stoynev accused fellow European Union members of a politically-motivated attempt to scupper the project, and urged the bloc to understand the effect that doing so would have on its members.
The drops have come mainly because Japan did not take any cargoes in March and South Korea is not scheduled to take any shipments in April, according to the tanker data.
Japan's finance ministry and central bank have declined to comment on the payments.
But a survey shows that most people believe inflation is speeding up and could surpass 37 percent this year.
A fifth payment of $450 million was due on April 15, contingent on Iran having diluted half of its most sensitive stockpile of nuclear materials
The year-on-year inflation rate in the 18 countries sharing the euro was 0.5 percent in March against 0.7 percent in February, the European Union's statistics office Eurostat said.
Pushed by higher food and shelter costs, the consumer price index rose in March.
Country of origin labels are currently voluntary in the European Union and many of the bloc's governments want to keep it that way
While reverse flows would help cushion the effects of a Russian export cut during mild-demand summer months, analysts say they would not be sufficient in winter.
The tanker, Aegean Dignity, is due to take its load to Italy, the NOC quoted an oil official as saying in a statement on its website
TAP aims at enhancing the security of natural gas supply as well as diversification of gas supplies for the European markets.