Nokia launched their first phones powered by Microsoft's new Windows Phone 8 operating system yesterday, the Lumia 920 and 820, at a press conference in New York.
The Lumia 920 is the flagship phone, sporting a 4.5 inch screen and an 8.7 megapixel PureView camera to reduce blurring from hand motion when taking pictures.
Both Nokia and Microsoft hope that Windows Phone 8 will be able to compete with the two dominant platforms, Apple's iOS and Google's Android. Microsoft CEO Steve Ballmer said that along with the phones, a whole host of new Windows products would be coming out this year.
"Make no mistake about it. This is a year for Windows. Windows phone, Windows tablets, Windows PCs. It is a year for Windows."
But a lack of information over the phone's availability and pricing appeared to displease investors, as Nokia shares slumped by 13 per cent after the announcement.
Mike Walkey, a communications technology analyst at Cannacord Genuity, said that whilst the new Nokia phones were a step in the right direction, it will take a lot for Windows to become a major player in the smartphone market.
"Windows is so far behind in terms of market share against Android and Apple that they have to almost battle at the point of sale person by person to try to get anyone to switch who has already joined these ecosystems, given smartphones sales have taken off but Windows is so far behind in market share, it's a big battle ahead to even try to gain relevancy to get to that ten per cent global share to build off of long term for Windows to emerge as the third ecosystem."
Nokia was once the global leader in mobile phone sales, but in the age of the smartphone, the Finnish company has been left trailing behind the likes of Apple and Samsung. Nokia will be hoping that the latest Lumia range will see their phones return to the popularity they once had worldwide ten years ago.
Written and presented by Alfred Joyner