No light of day for Nokia's Lumia 1020

By IVCPOST Staff Reporter

Jul 31, 2013 11:21 AM EDT

Nokia recently released its latest offering with the Lumia 1020. The new smartphone garnered high praise from reviewers in the industry prior its release. However, no good review helped the company to sell more of the latest gadget to enter the smartphone race.

Tech and gadget blog called the release of Nokia "astonishingly reckless," referring to the Finnish company's move to release another high-end phone after its flagship Lumia phone tanked. Priced at a very expensive (relative to average smartphone prices) US$300, the new Lumia 1020 failed to generate sales for the ailing Nokia brand.

During its first day of release, the Lumia 1020 landed at 13th place among the most popular AT&T phones in online retailer A day after, the smartphone slid to 25th.

Flagship phones which failed to crack even the top 20 list after one week of release usually means that the smartphone is destined to rot in shelves forever. Smartphones like Samsung Rugby 2, and series phones Lumia 920 and 900 all failed in the market.

As of current writing, Nokia Corporation's shares dipped by 0.68%. During the second quarter, Nokia's shares dropped due to a drop in sales.

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