Nokia shares fall as new phones fail to impress

Shares at the troubled Finnish mobile phone giant Nokia tumbled by 13 per cent yesterday after analysts gave the thumbs-down to its new range of smartphones using the Windows 8 operating system. Nokia staged a glitzy launch in New York to unveil two devices, the Lumia 920 and 820, which are the result of its alliance with Microsoft.

But analysts were not impressed with Nokia's decision to invest in high-quality, camera technology as a way to stand out against better-selling rivals Apple and Samsung. The Lumia 920, the flagship device, has "augmented reality" software that means when you point the camera at a city street, it overlays maps and information about local restaurants and shops on the screen.

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