Nokia Corporation (ADR)(NYSE:NOK)’s alliance with
China Mobile for selling its new Lumia 920 in the country is being hailed as a
smart move by the Finnish handset maker.
Forbes called it a coup and noted that "China
Mobile’s huge subscriber base (700 million) gives Nokia almost twice as big an
addressable market for its comeback Windows Phone bid in the world’s biggest
smartphone market."
The strategic partnership has also rattled Apple
loyalists, and was one of the triggers behind the slide in the company's shares
on Wednesday.
China Mobile is the country's biggest network services
provider.
Nokia has put to rest the rumours of its imminent
entry into China via a tie-up and confirmed on Wednesday that it would be
bringing the TD-SCDMA variant of its flagship Lumia 920 smartphone to China
Mobile before the end of the year.
Incidentally Apple's iPhone 5 will be also launched
this month in the country but in a tie-up with China Telecom and China Unicom.
While specific sales figures are not available there
are reports of Nokia's Lumia smartphones being sold out in countries such as
Germany and Australia.
A report by Yahoo China also said that the European
cell phone maker received more than 2.5 million orders for the Lumia 920 in
less than a month since launch, Forbes said.
"To add perspective, this is just a tad shy of
2.9 million sales that Nokia recorded for the entire Lumia portfolio during the
previous quarter," Forbes added.
Of course Nokia still has to contend against Apple and
Google's Android operating system, both of which have a significant presence in
the country. But Nokia has started its come-back campaign well.
Investors Cheered the company’s recent move and the
stock soared about 14% to hit multi-month high of $3.88 in Wednesday’s session.
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