Bloomberg News

Nokia to Sell Smartphone at Verizon to Accelerate U.S. Push (1)

May 10, 2013

Nokia to Sell Smartphone at Verizon to Accelerate U.S. Push

The Nokia Lumia 928. Photograph: Nokia

Nokia Oyj, the Finnish mobile-phone maker trying to win back users from Apple Inc. and Samsung Electronics Co., struck a deal with Verizon Wireless (VZ:US) to sell its new flagship smartphone.

The largest U.S. mobile carrier will start selling the Lumia 928 on May 16 for $99 after a $50 mail-in rebate and a two-year contract. The phone has a 4.5-inch (11.4-centimeter) screen and an 8.7 megapixel camera, and it can be charged cordlessly, Nokia said today in a statement. It runs on Microsoft Corp.’s Windows Phone software like other Lumias.

The device marks the first time a high-end Lumia will be sold by Basking Ridge, New Jersey-based Verizon Wireless, which has about 100 million customers. Nokia, based in Espoo, Finland, has struggled to turn around its plunging smartphone market share in the U.S. since it peaked in 2001.

The phone also advances Microsoft (MSFT:US)’s push into mobile-device software, where the company trails Apple and Google Inc.’s Android. Those who buy the Lumia 928 will get a $25 credit for Windows Phone applications and games, Nokia said.

Nokia shares rose as much as 3.8 percent and gained 3.2 percent to 2.80 euros at 5:51 p.m. in Helsinki trading, paring this year’s loss to 4.2 percent. Microsoft fell 0.3 percent to $32.56 at 10:51 a.m. in New York.

To contact the reporter on this story: Adam Ewing in Stockholm at aewing5@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net


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Companies Mentioned

  • VZ
    (Verizon Communications Inc)
    • $50.35 USD
    • 0.66
    • 1.31%
  • MSFT
    (Microsoft Corp)
    • $47.52 USD
    • 0.84
    • 1.77%
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