Microsoft Corp. share price up, unveils first flagship Lumia 830 after the acquisition of Nokia’s handset unit

Microsoft Corp. unveiled its new Lumia 830 at a conference in Berlin today. This is the first flagship smartphone of the company since Microsoft acquired Nokias handset unit in a €5.4-billion ($7.2-billion) deal in April.

Microsoft shared that its new device will have a 5-inch display and a 10-megapixel camera. The price of Lumia 830 will be about €330 before taxes and subsidies. The shipping of Microsofts new device will begin this month. The company also presented its Lumia 730 and Lumia 735, which are to be sold at the price of €199 and €219 respectively.

A carphone wearhouse spokesmen commented for Forbes regarding Nokias push to release smartphones with impressive specifications for each price level: “The 830, 730 and 735 announced today continue that with features such as a high tech selfie camera on the 730 and 735, wireless charging and the now signature on-trend fashionable colours, all at a reasonable price point look sure to help cement Microsoft smartphones as a trendy lifestyle product as well as a technically dependable one.”

The new devices are to complete the already existing Lumia range, which was acquired by Microsoft after the take-over of Nokias handset division. Microsoft Chief Executive Officer Satya Nadella has put a lot of effort in increasing Windows Phones market share, which amounted to a mere 2.5% in Q2.

The outflow of customers, who prefer the devices of Apple Inc. or such powered by Googles Android operating system also forced Windows to release its new Lumia device at a relatively affordable price.

Chris Weber, head of mobile devices sales at Microsoft said in a statement cited by Bloomberg: “We’re bringing those flagship experiences to a more affordable price segment. Apple can’t say that and Samsung can’t say that.”

Along with the presentation of its new device at the conference in Berlin, the company also highlighted the importance of both software and services and revealed a Windows Mobile software update that is to improve the work speed of Windows-powered phones cameras.

Microsoft Corp. rose by 0.22% to trade at $45.06 per share at 13:40 GMT, marking a one-year change of +44.45%. The company is valued at $370.46 billion. According to CNN Money, the 28 analysts offering 12-month price forecasts for Microsoft Corp. have a median target of $47.00, with a high estimate of $56.00 and a low estimate of $34.00. The median estimate represents a +4.54% increase from the previous close of $44.96.