Telecom & Wireless

Nokia Claims Lumia 900 Stock-outs Due to Sales, Not Bug (NOK, MSFT, T)

The introduction of the Lumia 900 smartphone from Nokia Corp. (NYSE: NOK), Microsoft Corp. (NASDAQ: MSFT), and AT&T Inc (NYSE: T) was not exactly a thing of beauty. First, the launch was set for Easter Sunday, when many of the AT&T stores were closed. Then there was the software glitch that prevented some of the phones from connecting to AT&T’s network. Nokia offered to replace the defective phone and to give the owner a $100 credit on the carrier’s bill.

This might be enough to sink any new product, but the Nokia-Microsoft-AT&T troika are insisting that even if every detail did not go as planned, the launch was a huge success. Such a success that the company can’t keep the cyan-colored phone in stock. According to a report at the AllThingsD blog, buyers of the defective phones are choosing to keep the phone and apply the now-available software patch, which the troika claims is proof of a very successful launch. A Nokia spokesperson said, “[T]he impact of customer swaps is insignificant. We are producing more devices to satisfy demand as quickly as possible.”

We’ll see when second-quarter sales reports are released.

Paul Ausick

Essential Tips for Investing: Sponsored

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.