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Lumia 1020 Unveiled With 41MP Camera

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To regain its position in the smartphone race, Nokia Corporation (NOK - Free Report) has unveiled the much-hyped Lumia 1020 with a 41 megapixel (MP) smartphone camera. Lumia 1020 runs on Microsoft Corporation’s (MSFT - Free Report) Windows Phone8 operating system (OS).  

Lumia 1020 comes with a high resolution 41MP camera with image-stabilization technology, which enhances clarity. The 41MP phone is backed up with six Carl Zeiss optical lenses that allow sharp images even in low lights. The company claims that the new phone will allow users a digital camera-like experience in a smartphone.

Nokia’s 808 PureView phone launched last year contained a 41MP camera, while its flagship Lumia 920 possesses the image stabilization feature. This latest smartphone offering is considered by some an improvement on Apple Inc. (AAPL - Free Report) iPhones’ 8MP and Samsung Galaxy S4’s 13MP cameras.

Dual capture is another intriguing feature of the smartphone, which records two versions of the image simultaneously. It takes a high resolution 38MP image, which can later be edited for larger prints and also captures a 5MP picture that can be easily shared on social networks.

Lumia 1020 possesses a 1.5GHz processor, 2GB RAM, a 4.5 inch display and 32 GB storage capacity. The U.S. version comes with Microsoft’s SkyDrive along with AT&T’s storage service, which is quite important for such a high feature smartphone. Inspite of such a high resolution camera the smartphone lacks on the zooming front.  

Lumia 1020 is available in white, yellow and black and will be launched in the U.S. on 26 Jul, 2013, with pre-orders from 16 Jul, 2013. AT&T Inc. (T - Free Report) will offer the phone at $300, which is bit on the higher side than normal flagship smartphones. Lumia 1020 will come with a two-year contract. The latest Lumia is expected to be available in China and Europe by Sep 2013.

Nokia has lost its leading position in the smartphone race, as iPhone and Android-based smartphones have captured the larger part of the market. The tie-up with Microsoft has failed to make a positive impact as the company does not feature in IDC’s top 5 smartphone manufacturers’ list.

Lack of applications in the Windows OS as compared to iOS and Android is mainly attributable for the poor performance. We believe that the latest offering is an attempt by the Finnish giant to make it to the top 5 spot in the smartphone business. Although the smartphone eliminates the need to carry a point-and-shoot camera, it remains to be seen whether the company can lure customers to choose superior imaging over popular applications.

Nokia currently carries a Zacks Rank #3 (Hold).

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