What Makes Nokia So Risky Still?

Nokia's (NYSE: NOK  ) fall from its place of dominance in the mobile phone space has been well documented, both here and elsewhere. Once the leading name in the cellular phone market, the company finds itself today struggling to come to grips with a world where mobile computing represents the new norm and smartphones dominate the competitive landscape.

However, after it seemed like the market had given it up for dead, Nokia's shares have shown renewed signs of life over the last several weeks, rising an astounding 25% last week alone, fueled in no short measure by the supposed success of its recently launched Lumia 920 smartphone. Thanks to its partnership with Microsoft (NASDAQ: MSFT  ) , whose Windows Phone software powers the device, it now seems that Nokia might finally have won itself a seat at the table in the burgeoning smartphone market.

And although this seems encouraging, the competition has never been fiercer in the smartphone space. Apple (NASDAQ: AAPL  ) and Google (NASDAQ: GOOGL  ) still sit comfortably atop the smartphone market with their dominant iOS and Android operating systems, respectively. However, a win from Nokia could help usher in the Windows Phone as a viable third option.

All this amounts to Nokia's shares looking tantalizing from one angle, with its seeming recent successes, but also fraught with uncertainty and risk. In order to help investors crystallize their thinking on the beleaguered smartphone giant, the Fool recently published a special research note on Nokia, which covers all of the essential information investors need to understand when looking at the Finnish smartphone maker. To introduce our readers to the product, we included a free excerpt from the report. If you find this compelling, you can just click here to access the report in its entirety. Enjoy.

Risks
Nokia's fortune lies within the broader success -- or not -- of Windows Phone 8 as a viable mobile ecosystem. Right now, the smartphone market is a two-horse race between the competing iOS and Android ecosystems. Windows, along with Research In Motion's once-ubiquitous Blackberry, are way behind the two leaders. Microsoft and Nokia are working closely to bring Windows Phone 8 into a strong third place, but we have yet to see robust consumer demand for these devices. To be fair, they are just now available to consumers, and the combination of high-quality hardware, extensive marketing, and committed support from carriers like AT&T and Verizon can improve consumer perceptions over time.

Even within the Windows Phone 8 space, competition is heating up. Nokia has to compete with high-quality handsets, most notably from HTC, which is launching its own lineup of colorful Windows phones. HTC's Windows Phone 8X came out of collaboration between HTC and Microsoft and is a signature device that features the Windows Phone brand in its name. While one could argue that multiple manufacturers making Windows phones can raise consumer awareness to the benefit of all participants, Nokia really needs to stand out as the premiere Windows phone provider since it does not have Android phones to fall back on.

The long transition from Symbian to Windows phones has been financially painful for Nokia, and its financial resources are diminishing. At the end of the September 2012 quarter, Nokia had $5 billion net cash on hand compared to almost $8 billion at the end of 2011. A recent 750 million-euro convertible bond offering helped bolster Nokia's cash balance. However, Nokia reported negative free cash flow over the last 12 months, and it does not have time on its side. It needs significant traction with its Lumia phones in order to stabilize its finances.

Nokia's been struggling in a world of Apple and Android smartphone dominance. However, the company has banked its future on its next generation of Windows smartphones. Motley Fool analyst Charly Travers has created a new premium report that digs into both the opportunities and risks facing Nokia to help investors decide if the company is a buy or sell. To get started, simply click here now.

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  • Report this Comment On November 30, 2012, at 1:58 PM, indybluff wrote:

    Have you tried a Lumia 920 and compared it with either IP or SG phones before your unbiased writing?

  • Report this Comment On November 30, 2012, at 7:55 PM, llIlllIlllIlllIl wrote:

    Nokia is not risky, it's an incredible opportunity to make several times return on your investment.

  • Report this Comment On November 30, 2012, at 9:45 PM, stockamx wrote:

    Giver! NOK is back!

  • Report this Comment On December 01, 2012, at 3:49 AM, CalebEvans wrote:

    Feature phones Asha 205 and Asha 206 belong to Nokia´s "next billion people to reach internet" strategy. This is a big chance. There are still many many people out there using feature phones, especially in developing countries.

    In these phones, there are Facebook, Twitter etc, and also 40 most popular games in the world for free. All packed in a $60 phone without any contract. Therefore, I think it is quite hard for other manufacturers to compete featurephones with Nokia.

    And the featurephone division in Nokia has been profitable, because of this Asha family. Therefore, Nokia´s 3.6 billion euros net cash, plus NSN, Navteq, patent portfolio and featurephones (all these 4 divisions have been profitable) are giving enough time for Lumia phones to take off (pushing them with huge marketings, discounts and campaigns). And Nokia´s EPS was -0.07 euro any more last quarter, when Lumias were sold 2.9 million units. And now, even Street estimation is above 5 million units. Kantar just reported WP phones have reached 11.7% in Italy. The WP phones most sold there are Lumia 610 and Lumia 800.

    Yahoo-China reported last week that Lumia 920 alone was ordered from Nokia up to date 2.5 million units. And Lumia 920 still sells out

    in most of the countries launched. Lumia 920 and 820 also support Arabic now, which meas WP8 phones will arrive to more markets.

    In addition, China Mobile (the world´s biggest carrier with about 660 million subscribers) is selling Lumia 920T soon, starting December!

    Lumia 920 has repeatedly sold out in many countries, such as:

    Italy, Germany, Australia, US, UAE and so on. Yesterday, this also happened in France, Sweden and England.

  • Report this Comment On December 01, 2012, at 3:53 AM, CalebEvans wrote:

    My friend sent me a short article from Dubai about a week ago. He used googletranslate to translate this article for me and sent me in an email. He said his father went to buy one and a half million more NOK shares, and his father´s friends are all planning to buy. So, it is very interesting to wait and see which ones will win, the young tigers or the rich people in Dubai.

    Here is the article:

    There is a big name behind the people who hope Nokia collapses

    Nokia shares are the most short-sold shares in Helsinki and New York. Last Friday, an updated list of the six U.S. funds have sold short more than seven per cent of Nokia shares in Helsinki and in New York over 300 million Nokia shares have been short-sold.

    Nokia short-selling funds, only one was not fund guru Julian Robertson’s younger followers. Robertson founded one of the world’s first hedge funds in 1980. The company’s name was Tiger Management, which is why the followers are called tiger puppies.

    Short seller to assume that the share price drops in the future. If the share price goes up, the value of their investment fall.

    Among them include the Blue Ridge Capital’s John Griffin, Maverick Capital’s Lee Ainslie, Andreas Halvorsen of Viking Global, and Lone Pine Capital’s Steve Mandel. All mentioned “tiger kittens” have shorted Nokia.

    Andreas Halvorsen has distributed more power to young portfolio managers.

  • Report this Comment On December 01, 2012, at 3:56 AM, CalebEvans wrote:

    Reasons why Nokia can triple in a couple of years:

    1. Nokia Siemens Networks is profitable and growing strongly (over 300 million euros profit in 3Q). Nokia and Siemens have decided to make it independent in these few years, therefore Nokia shareholders will have two companies´ shares in their hands, quite a good bonus.

    2. Navteq is profitable as well, and it is expanding its business as the world´s leading maps maker, with City Lens and Earthmine´s 3D mapping, Nokia will have a bigger slice of this pie yet.

    Right now, Navteq already has big clients such as Yahoo, Facebook, Amazon, Mozila, Oracle and almost countless car companies. Navteq just reported it is building navigators into 4 out of 5 cars (80%), with the new cars with navigator built in.

    3. Nokia´s patent portfolio earns about 500 million euros a year.

    Samsung is paying Apple for intellectual property rights; HTC is paying Apple; Vringo is suing ZTE; Nokia is suing HTC; Ericsson is suing Samsung; and APPLE IS PAYING NOKIA FOR INTELLECTUAL PROPERTY RIGHTS!

    Thus, it is only a matter of time when Nokia will sue Google and Samsung, if they still don´t agree to pay Nokia for its patents.

    4. Nokia´s featurephone division is doing well, because of Asha phones.

    5. The only 1 out of 5 Nokia´s business parts, which is not profitable, is smartphone business, but

    new Lumia generation looks promising.

    Lumia 920 has features like:

    Floating-lens PureView camera with optical image stabilization

    Wireless charging

    Super sensitive and bright screen that can be used with gloves or finger nails

    Premium GPS that can be used also without internet

    Augmented reality City Lens

    Free music with no ads

    NFC

    Rich sound recording in vids

    Fastest screen on a smartphone

    Wireless Purity Pro headphones

    Wireless speaker that can charge your phone wirelessly

    Nokia also bought Scalado, the imaging technology firm in Sweden. Therefore, apart from NAVTEQ and NSN, Nokia is no doubt going big with PureView imaging technology. Some authors compare Nokia to Kodak, I think it is almost the opposite.

    Kodak was the old era and Nokia is starting the new evolution with smart-phone imaging, when consumers won´t have to carry another gadget (camera), for example during traveling.

    6. Considering now the total loss is about 17 million euros, it got much better from the 290 million (2 prior quarters each) loss.

    Nokia´s current 3.6 billion euros net cash should be enough for Nokia´s transitional period before WP8 phones take off.

    Nokia is also getting more cash from convertible bonds and selling its headquarters and other non-core assets.

    Morningstar´s analysis about Nokia:

    Best scenario (if WP8 phones go well): the stock price will go to about 7.70 euro per share.

    Worst scenario: no bankruptcy, because Nokia would be sold in parts before that.

    Estimated price for this: intellectual properties over 1 euro per share; other business parts (smartphones, featurephones, NSN) at least over 1.50 euro per share.

    And NAVTEQ´s price not included (Nokia bought NAVTEQ with 5.7 billion euro). All in all, even in this case, Nokia share price would be at least over 2.50 euro, excluded NAVTEQ. And Nokia´s net cash is now 3.6 billion euros.

    In other words, the sum of parts of Nokia and net cash are worth much more than its market cap now, which means NOK share is right now heavily undervalued.

    7. Nokia´s 3.75 billion shares outstanding,

    covers both Helsinki and New York.

    In other words, the short interest in NOK has been around 20% (Helsinki + New York) on a base of 3.75 billion shares.

    This is a significant figure to note, because for example, shares of Apple have been short sold only about 0.5%, Samsung over 2% and other telecom companies about 4% in general.

    Therefore, the real short covering of NOK is still to come yet.

    8. The only 1 out of 5 Nokia´s business parts, which is not profitable, is smartphone business, till now.

    And the EPS in last quarter (3Q12) was only -0.07 euro per share any more.

    A few days ago, Yahoo-China site said that it has the approximate number of Lumia 920 that has been ordered from Nokia up to date, and it was about 2.5 million units. And this number of Lumias 920 alone is already close to the total number of all the Lumia variants sold in last quarter, 3Q12, which was 2.9 million units only.

    Apart from Lumia 920 and 820 variants, Nokia has been pushing at the same time the sales of Lumias 510, 610, 710, 800 and 900 with campaigns and discounts.

    For example, Lumia 800 has gone back into top ten charts in many countries.

    Kantar reported that WP phones have reached 11.7% market share in Italy.

    The two hit phones are Lumia 610 and Lumia 800 there.

    ABG Sundal Collier said in their report that the Lumia 920 makes people interested in it and marks the comeback of the brand of Nokia.

    Liberum upgraded NOK from “hold” to “buy”.

    Nordea has upgraded from “buy” to “strong buy”.

    RBC kept their “Market Perform” but raised target.

    Nokia launched Asha 205 and Asha 206.

    In these two new Asha phones, Nokia has a new innovation called “Slam” with which you can share photos and videos between the phones, and don´t have to even pair them up like NFC. Also Facebook etc and 40 most popular games in the world are in these phones, which make it hard for manufacturers to compete featurephones with Nokia.

    Nokia´s WP8 phones will be available in more markets, because they also support Arabic now.

    China Mobile (the world´s biggest carrier with about 660 million subscribers) has also confirmed Lumia 920T arriving December!

  • Report this Comment On December 01, 2012, at 4:09 AM, CalebEvans wrote:

    Nokia Is a Wide-Ranging Company and The Stock is With Hidden Value Right Now

    Nokia does not only make phones.

    Nokia´s feature-phone division is doing well, because of Asha phones.

    Nokia has not lost about 1 billion dollars a quarter like the media says, because Nokia has 5 business parts and 4 of them are profitable. Therefore, the exact number is much much smaller.

    Nokia´s loss is only 17 million euros any more (compared to Reuters´s consensus 277 million and Nokia´s last two previous quarters about 290 million each), this was much better.

    Nokia Siemens Networks is doing very strongly (over 300 million euros profit in 3Q. More business to come in the future: 3G in developing countries, 4G in developed and emerging countries)

    NAVTEQ was also profitable, NAVTEQ´s number might be better in 4Q, because of the deals with Amazon, Yahoo, Oracle and many car-companies.

    Nokia´s patent portfolio earns about 500 million euros a year, and the number is still increasing.

    Nokia has cut expenses (which saves about 1 billion euros a year) and in the future Nokia does not have to spend so much in R&D either, because it has teamed up with Microsoft.

    Nokia´s WP 8 devices will hit more markets, for example the Middle-East countries (Lumia phones have not been in these countries yet till now).

    New Lumia generation looks promising.

    For example Lumia 920 has features, such as:

    Floating-lens PureView camera with optical image stabilization

    Wireless charging

    Super sensitive and bright screen that can be used with gloves or finger nails

    Premium GPS that can be used also offline

    Augmented reality City Lens

    Free music with no advertisements

    NFC

    Lumia 920 does not only have a great low-light camera, but also has exceptional audio recording quality due to the 3 HAAC Rich-recording microphones.

    Right now, there is no way to compare Nokia to Apple among most smart phone consumers, but there is hope in the future.

    For example, Nokia just signed the contract with China Mobile (who has about 660 million subscribers, which is about 70% of all subscribers in this world´s biggest nation), and even though iPhone is very popular in the US and Europe, Windows Phone OS already surpasses iOS in the world´s biggest countries beside China, such as Brasil, India and Russia. Even though in these countries more low price point phones are sold, but these are the most important emerging giants in the world where Nokia´s position and brand are still quite strong. And it may be sooner than we think when more people in these countries are able to afford high end smart phones.

    Nokia has not lost about 1 billion dollars a quarter as the media says, because its other parts of business are profitable (while 1Q´s and 2Q´s total loss 290 million each, 3Q´s total loss only 17 million euros any more). Therefore, 3.6 billion euros net cash should be enough for Nokia´s transition period before WP8 phones take off. There is still enough room for a third ecosystem in this world, beside emerging markets Europe has adopted WP phones in a very encouraging way (for example Italy has already over 10% market share for WP phones, considering the Lumia debut has not been a year yet, since last November only. WP OS has already grown a lot faster compared to iOS and Android in their first quarters). Lumias were sold 9,9 million units under a year. The number is small compared to Iphones and Androids sold today, but it is not a bad start. It is more fair to compare the numbers among the 3 in their first year.

    Now when the DOWS and S&P have almost hit all time highs, investors start to think more about cheap and potential value stocks. NOK is now only about 0.8x book value, and usually NYSE stocks are on an average about 2x book value (Apple about 6x book value). Therefore, I think NOK is cheap enough for its values. Another reason is NOK has been already shorted massively about 19% of its total shares.

    Apart from Vertu and so on, Nokia still can sell its patents, since it still has about 30 000 patents in its own hands (in case Nokia needs more cash).

    If the stock price still goes cheaper and cheaper, one day some rival would bid for Nokia, just for its patents ( Motorola was acquired by Google with 12 billion dollars, this is good to remind people who underestimate intellectual properties´ value).

    Microsoft will bid for Nokia with higher premium if some company really bids for Nokia, because Nokia is in so close partnership with Microsoft that this also includes business strategies, business secrets and so on. Therefore, Microsoft won´t let any company acquire Nokia than itself. When it comes to Microsoft, it is still the net cash king in the world, after all its debts excluded, it still has a huge net cash about 50 billion dollars.

    About Nokia´s buy out: Motorola´s patents were worth about 5.5 billion, if some company bids for Nokia´s patents and Microsoft still does not acquire Nokia, Nokia will be sold in parts. Nokia has 5 business parts, therefore patent portfolio is only 1 out of 5. Now, you can count yourself how much are Nokia Siemens Networks, NAVTEQ, and feature-phone division worth.

    I know US is very important market, because Wall Street and US consumer trend give directions to market momentum around the world, still you can not neglect the power of BRIC and MIST these days.

    You can calculate yourself how many people living in these 8 BRIC- and MIST-countries. In these countries, in Brazil, Russia, India, China, Mexico, Indonesia and Turkey, Nokia´s position and brand are still quite strong (except South-Korea, but you know it is Samsung´s home-country and the smallest country among those important 8 anyway).

    Morningstar´s analysis about Nokia:

    Best scenario (if WP8 phones go well): the stock price will go to about 7.70 euro per share.

    Worst scenario: no bankruptcy, because Nokia would be sold in parts before that.

    Estimated price for this: intellectual properties over 1 euro per share; other business parts (smartphones, featurephones, NSN) at least over 1.50 euro per share.

    And NAVTEQ´s price not included (Nokia bought NAVTEQ with 5.7 billion euro). All in all, even in this case, Nokia share price would be at least over 2.50 euro, excluded NAVTEQ. And Nokia´s net cash is now 3.6 billion euros.

    In other words, the sum of parts of Nokia and net cash are worth much more than its market cap now, which means NOK share is right now heavily undervalued.

    Nokia also announced it is hiring more employees to work in Chicago (where NAVTEQ is). Who says Nokia is going bankrupt? Think twice before saying that!

    Nokia also bought Scalado, the imaging technology firm in Sweden. Therefore, apart from NAVTEQ and NSN, Nokia is no doubt going big with PureView imaging technology. Some authors compare Nokia to Eastman-Kodak, I think it is almost the opposite.

    Eastman-Kodak was the old era and Nokia is starting the new evolution with smart-phone imaging, when consumers won´t have to carry another gadget (camera) during traveling.

    One of the reasons why Nokia is one of the most defensive stocks right now during bear markets is that Nokia has been already shorted massively about 19% of its total shares (while Apple only about 0.5%, Samsung over 2%, and other telecom companies about 4% in general).

    By the way, NAVTEQ just reported it is making navigators into 4 out of 5 cars (80%).

    And I hope Nokia will license City Lens to tablet makers like Amazon, Asus, Acer etc (at the same time it can turn Google maps users into using Nokia´s advanced mapping platform) soon.

    When also Nokia´s Devices & Services division is profitable as well, will you ever have a chance to buy NOK stock this cheap again? The answer might be: NEVER.

    Another aspect is, when now NOK has been already shorted massively about 19% of its total shares, bears could not go any further, because the share number that is available for borrowing/renting has already hit record high.

    If bears still dare to sell, there are plenty of happy buyers out there, for example Switzerland´s central bank has announced it had bought more NOK shares and has become the 5th biggest shareholder in Nokia.

    Considering now the total loss is about 17 million euros, it got much better from the 290 million (2 prior quarters each) loss.

    3.6 billion euros net cash should be enough for Nokia´s transitional period before WP8 phones take off.

    Nokia is also getting more cash from convertible bonds and selling its HQ and other non-core assets.

    Nokia is a big chance and good bargain at about 3.5 dollars, because Nokia Siemens Networks has grown so strongly and profitable that Nokia and Siemens have decided to make it independent in these couple of years. That means Nokia shareholders will have two companies´ shares in their hands.This is a bonus.

    The conclusion is Nokia is for long-term and medium-term investing not for short term. Just think about this, even when Apple and Google reach 1000 dollars, that is not even doubling, but in the long term Nokia has the opportunity to triple or even more.

  • Report this Comment On December 01, 2012, at 4:10 AM, CalebEvans wrote:

    Microsoft and Nokia have not intended to beat Samsung and Apple.

    For them, the third horse in the race is quite enough. Why?

    Because Nokia and Microsoft have other business divisions than just smartphones!

    Nokia has NSN, Navteq, feature phones and patent portfolio.

    And these 4 other parts of its business have been profitable.

  • Report this Comment On December 01, 2012, at 4:11 AM, CalebEvans wrote:

    Financial Times chose Nordea in their "The Banker" magazine as the bank of the year in Europe. Nordea is the bank which just rated Nokia from "Buy" to "strong buy".

    This bank has had the most accurate estimations and analysis in Europe, and it also has suffered the least in financial crisis from Lehman Brothers to Euro zone´s debt crisis!

    Nordea also raised NOK´s target price from 3 euro to 3.5 euro.

  • Report this Comment On December 01, 2012, at 4:15 AM, CalebEvans wrote:

    Damian Dinning is joining Jaguar Land Rover.

    Here is his statement:

    As reported in Nokia’s own statement regarding my forthcoming departure, a number of key strategic roles have moved to Finland. My family and I are based in the UK at a stage in our lives where relocation is unfortunately not an option. I have therefore made the tremendously difficult decision after nearly 9 years with Nokia to leave the company. I am hugely proud of the work I have been involved with during my time at Nokia and feel privileged to have worked with some of the smartest people I’ve ever been fortunate enough to meet.

    As reported by a few, the work area I am best known for, imaging, is the result of a huge and massively talented pool of people. I have often felt embarrassed by the media attention I received knowing that whilst I am proud of my own contributions and the forward looking guidance I have strived to provide the teams, there are a lot of unsung heroes!

    I have known for some time that I would be leaving Nokia. I’ve spent many many months with this in mind, working with incredibly talented and highly motivated people across various teams building towards the next steps Nokia will take in imaging.

    Read more at pureviewclub site.

    About PureView:

    1. Actually, it was not Damian Dinning who created PureView.

    The 2 inventors are Juha Alakarhu and Eero Salmelin.

    2. Nokia bought the imaging technology company Scalado in Sweden, which is an expert in imaging, and of course there is also a head man in this company. Therefore, it is almost natural that Damian Dinning steps down.

    It came about in 2007, crazy ideas from Nokia’s Juha Alakarhu and Eero Salmelin. The idea was first recorded on a napkin. Then these two guys started to invent the PureView technology, the whole team included 400 people. You can watch

    videos on Youtube called:

    Nokia 808 PureView: 5 years in the making

    Nokia 808 PureView Hands-On Video

    Also an article called:

    Best of show: Nokia wins prestigious MWC award

  • Report this Comment On December 01, 2012, at 4:16 AM, CalebEvans wrote:

    Nokia Lumia 920 And Nokia Lumia 820 Available In Singapore From December 8th.

    Nokia is also selling the following accessories in Singapore:

    JBL PowerUp Wireless Charging Speaker for Nokia

    JBL PlayUp Portable Wireless Speaker for Nokia

    Nokia Purity Pro Wireless Stereo Headset by Monster

    Netherlands, Device Availability From Jan 2013.

    Microsoft announced 40 million Windows 8 licenses sold in 30 days.

    Swedish online store calls demand for the Nokia Lumia 920 “absolutely huge”, causes a backlog twice as big as that for the Samsung Galaxy S 3.

    Nokia Lumia 920 “Extremely Popular” At Walmart.

    Walmart is running a great offer for smartphones in their online store. They are offering a free $100 Walmart gift card with every smartphone purchase. You can see the list of eligible devices here. Nokia Lumia 920 is listed there in all colors and it is available for just $69.99 with free gift card.

    Hot deal in UK offers Pay as You Go Nokia Lumia 920 on EE for only £399, locked to EE/ Orange.

    The deal is in store and not online.

    2014 Ford Fiesta adds MyFord Touch with Improved Microsoft Sync Voice Recognition, Navigation and Phone Pairing.

    Nokia Lumia 920 is now available in Sweden from online retailer Phone House. The device is available in all colors and is expected to be delivered on November 29th. You can buy the device on contract from all the major carriers in Sweden such as Three, Telia, Tele2, Telenor and also Halebop. If you want an unlocked device with no contract, you can get it for 5790 svenska kronor(670 Euros).

    Finnish Carrie: Demand for Nokia Lumia 920 is the highest for any Nokia phone in the last 10 years.

    DNA Store’s Managing Director Sami Aavikko have told a local magazine in an interview that the demand for Nokia Lumia 920 in its stores were highest for any Nokia model released in the past 10 years. He also revealed that they are selling out of the devices as they receive.

    The issue is not just due to short supply, with Sami saying quantities delivered were similar as for the iPhone 5, but that shortages was due to true demand.

    Google Trends shows interest in the Nokia Lumia 920 exceeds NL 800,900 peaks, still growing.

    Verkkokauppa sent a Lumia 920 into space attached to a balloon. The Windows Phone managed to achieve a height of 30km, spending more than 27 minutes in sub-zero temperatures. And it survived well after landing back to the earth.

    It is now called "space version" Lumia 920.

    Nokia Lumia 920 takes on a DSLR with night photography. Keng Chang, took the issue to task and compared his Canon 1DX DSLR to the Lumia 920. The results do speak highly of the Lumia 920's low light performance.

    Lumia 920 available at Telstra stores in Australia, but sold out.

    The 920 on Rogers are not SIM unlocked though you could pay the Canadian carrier $50 to do so (assuming you bought it under contract).

    Microsoft in talks with landlords – Set to push Microsoft Stores to Europe in 2013.

    Amazing concert capturings with the Nokia Lumia 920 on Youtube.

    Lumia 510 available now in Philippines after India.

    Press Release: Facebook and Nokia partner to increase connections on-the-go; The new Nokia Asha 205, 206. "Slam" feature showed in Engadget videos.

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