Nokia Lumia 920 comes with great specs and features and it is being called the best Nokia phone thus far. But will it improve Finnish giant’s fortunes?

Nokia has surfaced the premium Windows Phone 8 handset the Lumia 920 with a hope to gain ground in smartphone market. The Finnish mobile firm, which has a shrinking market share for a while, looks to become a big player in smartphone market through its association with Microsoft. Many analysts think that Nokia can make a comeback with its new line of Lumia phones, led by the 920, the first-class model of its new Windows Phone 8 handsets.

Nokia Crisis
Once upon a time Nokia was a major vendor of mobile phones. Through a huge variety of phones especially feature phones the Finland firm dominated the global mobile market. But, the emergence of Apple and Samsung ended the supremacy of Nokia in the industry. Apple has an upper hand in smartphone market and Samsung is global leader not only in smartphone, but also feature phone markets. As a result, Nokia extensively lost its market share.

“Nokia is also losing its dominance in developing countries like India and in the Middle East as consumers increasingly dump their basic Nokia phones for cheap smartphones running Google’s Android OS,” says The Wall Street Journal. As per Gartner, in the final three months of 2011, Nokia phone sales accounted for 23 percent across the world. It was down around 10 percent from the 31 percent sales of early 2010. The difference is so huge that it has been going down significantly.

Nokia Lumia 920 and Competitors
Nokia Lumia 920 is to hit stores as a high-end handset. The device will likely be competing with Apple iPhone 5, Galaxy S3, HTC One X and other top notch gadgets. Indeed, analysts have counted Lumia 920 as a rival to these top-of-the-line phones. Of course, the highly feature-rich handset deserves the position as a key handset in market. But, success of the 920 is highly dependent on the response the Windows Phone 8 may get in market.

Well, it is going to be one of major handsets on Windows Phone 8. Other devices like Samsung’s ATIV S and HTC’s Windows Phone 8x may certainly be there in competition to the 920, however. Companies like Huawei and ZTE may also bring up some other strong devices for WP 8. Therefore, it won’t be a cakewalk for the 920 to stay competitive in market. On one side, there will be a huge collection of highly powerful Android devices and iPhone. On the other side, a set of outstanding WP 8 phones like ATIV S and 8X may lift the challenge.

Nokia Lumia 920: Major Features
The Lumia 920 is going to be the best ever Windows Phone Nokia has ever produced. The device is attention-grabbing due to a lot of great features such as 4.7-inch 1280×768- pixel display, 8.7MP PureView-based autofocus rear camera, 1.5GHz dual core Snapdragon S4 camera, 200mAh battery and more. Nokia shows off PureMotion HD+ display and PureView camera as the outstanding features of the handset.

“Take bright, blur-free photos and videos in any light conditions with PureView technology – Optical Image Stabilization and Carl Zeiss lens – and then relive the moment on a 4.5-inch PureMotion HD+ display,” says Nokia. Well, it means that the device is going to attract many customers with its advanced camera features that make it a great product to go with.