iPhones inability to connect to newest networks of European carriers has opened ways for Nokia Corporation (NYSE:NOK) to take back its lost market share. The company can accomplish this by introducing new handsets that are capable of connecting to newest and fastest networks, all across Europe.
In talks with Apple Inc. (NASDAQ:AAPL) and South Korea's Samsung Electronics Co., Ltd. (LON:BC94), Nokia Corporation (NYSE:NOK) is looking LTE smartphones - handsets with larger screens and faster in speed.
Long Term Evolution (LTE) is a wireless technology that allows speedy Web browsing, data download, and uninterrupted video streaming. Given that iPhone 5 is unable to connect to LTE networks in Europe, the likelihood of moving to a compatible handset is higher for a smart phone user to whom a fast Internet connection is a must.
According to European Strategy Analytics, Nokia's Lumia 920 and Lumia 820 allow smartphone users to connect to about two dozen LTE fast speed mobile networks in western Europe, while iPhone 5 only connects to only two LTE networks in Germany and the UK.
With Apple Inc. (NASDAQ:AAPL) and Android dominating almost 90% of the European smartphone market, and no announcement having been made by Apple to update its network coverage to the newest European networks, now is the time for Nokia Corporation (NYSE:NOK) to lure back consumers in dire need of fast Internet connection in Europe.
Looking set to shake up the market, the Lumia 920, Nokia Corporation (NYSE:NOK)'s recent smartphone, offers a compelling alternative to iOS and Android powered devices. A 21% rise is Nokia's shares have been observed in the past two weeks, as Lumia 920 completed its sell in German stores.
Comparing Nokia Lumia 920 with Apple's flagship smartphone, the iPhone 5, the only real criticism was the comparatively limited number of smart apps available on Nokia's platform. However, considering the surge of new mobile development going on with Windows Phone 8, the days are near when Nokia Corporation (NYSE:NOK)'s app market will have the same amount of consumer apps as that of Android and Apple Inc. (NASDAQ:AAPL)'s app market.