Telecom giant AT&T Inc.(NYSE:T) has announced its plan to sell new windows-powered Nokia Corporation (ADR)(NYSE:NOK) Lumia 920 for $99.99 from Friday. AT&T also clarified that with fall in price there will no changes in Two year contract. This aggressive pricing from AT&T has pushed electronic giant Best Buy to remove the product from its website which was priced at $149.99 on a two year contract.
AT&T has further announced its plan to sell Nokia Lumia 820 for $49.99 with same contract terms as it has for Lumia 920.
This fall in price makes Nokia Lumia 920 considerably cheaper than rival devices from Samsung Electronics Co and Apple Inc.This new discounted prices of Nokia Lumia 920 will help to capture a bigger market than competing devices like Apple's New iphone 5 costs $199.99 on two year AT&T contract and Samsung GalaxySIII costs $149.99 on 4G enabled network.
Nokia, once leading Smartphone manufacturer, is hoping to bounce back in Smartphone business with Lumia 920.This device comes at a critical time for Nokia which lost 969 million Euros ($1.24 billion) in the most recent quarter.Nokia's sales figure of 6.3 million smart phones in the third quarter has ranked itself out of top three smart phones shipment ranking for the first time. According to recent research, it is estimated that Nokia's smart phones market share at only 4% where rival Samsung market share has risen to 35%from 23% in the third quarter.
With considerably cheaper price than rivals manufacturer could attract interest for Nokia smart phones in the vital US market.Lumia 920 comes with wireless charging pad, optical image stabilization camera with upgraded version of Microsoft Crop's operating system . To make Lumia 920 more appealing to masses, AT&T has announced that early buyers will get wireless Charging absolutely free, for a limited time while it will take pre-orders for Lumia 920 from Wednesday itself.