Sept. 4 (Bloomberg) -- Microsoft Corp. announced the Lumia 830, its first high-end smartphone since it bought Nokia Oyj’s devices unit for about 5.4 billion euros ($7.2 billion) in April.
The device has a 5-inch display and a 10-megapixel camera, will cost about 330 euros before taxes and subsidies and starts shipping this month, the software giant said today at the annual IFA consumer electronics show in Berlin. Microsoft also showed the Lumia 730 and Lumia 735, which will cost 199 euros and 219 euros, respectively.
“We’re bringing those flagship experiences to a more affordable price segment,” Chris Weber, head of mobile devices sales at Microsoft, said at the conference. “Apple can’t say that and Samsung can’t say that.”
Microsoft Chief Executive Officer Satya Nadella is struggling to boost the market share of Windows Phone, which was 2.5 percent in the second quarter. Consumers are opting for devices made by Apple Inc. or powered by Google Inc.’s Android software, which together represent 96 percent of smartphones, according to data from IDC.
Microsoft in July announced the biggest job cuts in its history, planning to slash 18,000 positions as the company integrates Nokia’s handset unit.
Microsoft shares have jumped 13 percent since the purchase was completed on April 25, giving the Redmond, Washington-based company a market value of $370 billion. Microsoft shares traded at the equivalent of $45.03 at 1:27 p.m. in Frankfurt, compared with the $44.96 close in New York yesterday.
Samsung Electronics Co. yesterday unveiled two new smartphones and showed off a virtual-reality headset, developed with Facebook Inc.’s Oculus unit, and a new smartwatch. Apple is holding a Sept. 9 event, where the company is said to be preparing to debut new iPhones and a wearable device, Bloomberg News reported Aug. 28.
To contact the editors responsible for this story: Kenneth Wong at email@example.com Kim McLaughlin, Thomas Mulier