Nokia Lumia sales could restore investor confidence

24/01/2012

Nokia Lumia Sales Could Restore Investor Confidence

Investor confidence in Finnish mobile phone giant Nokia could be slowly coming back after the number of people possibly recycling their mobile phones to buy the Lumia 800 exceeded expectations.

The company's first phones running Microsoft software are estimated to have sold over one million units last year and it is thought this could have gone some way to rebuild confidence in the firm after it lost $19 billion (£12.2 billion) in market value in 2011.

Oslo-based fund manager at Storebrand Asset Management Espen Furnes told Bloomberg the numbers look promising for the firm and will be even more so if the launch of its Lumia 900 is as successful.

"If Nokia is able to have a strong launch and surpass at least one million and keep that momentum, this would help put them in a credible position that is crucial to winning back investors," he added.

Microsoft launched the Lumia 900 at this month's Consumer Electronics Show and it is expected to be released in March this year.

Posted by Claire Marshall

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