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For the once-great mobile phone manufacturer Nokia (NYSE:NOK), last week’s misleading promotional video for the Lumia 920 derailed the launch of the company’s newest phone. The company did not use use its own hardware to demonstrate the Lumia’s new camera capabilities, a decision that Nokia officials have acknowledged used “poor judgement.”
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The blunder prompted an internal investigation within the company that was concluded Friday. A spokeswoman for Nokia said the investigation “confirmed that poor judgment was exercised in the use of the [marketing] materials,” and that Nokia has taken “appropriate actions” to address the problem. She declined, however, to elaborate on what the actions the company took.
Nokia collaborated with Microsoft (NASDAQ:MSFT) to create the Lumia 920 in hopes that Nokia could regain leadership in the mobile phone industry and Microsoft could regain its dominance in smartphone operating systems. In 2005, both companies topped their respective sectors.
While the Lumia’s launch was light on details and the misleading marketing video was a symptom of this problem, Deutsche Bank has predicted that shipments for the phones will be 4 million in the fourth quarter of 2012 and 25 million next year. For comparison, Apple (NASDAQ: AAPL) sold 26 million iPhones in last quarter alone, proving that the road to the top will be difficult for Nokia.
Nokia (NYSE:NOK) closed the trading week up 1.36% at $2.98 per share. Over the past 5 days of trading, Nokia has risen 12.88%.
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