July 12 - Nokia unveils a new smartphone with a 41-megapixel camera, banking on advanced optics to make up for meagre marketing resources and a limited range of phone apps. But as Ivor Bennett reports, analysts are sceptical the Finnish company will be able to regain market share.
**PLEASE NOTE - RESENDING VIDEO WITH CORRECTED EDIT - PLEASE IGNORE PREVIOUS VERSION** Is this the phone that will save Nokia? The Lumia 1020 is the latest release from the former market leader as it continues to play catch-up with its rivals. The wow-factor this time? A 41 megapixel camera. Nokia CEO Stephen Elop. SOUNDBITE (English) STEPHEN ELOP, CEO, NOKIA, SAYING: "The Nokia 1020 will change how you shoot, how you create and how you share pictures." SOUNDBITE (English) REUTERS REPORTER IVOR BENNETT, SAYING: "The camera has become a key feature of Nokia's phones. The 808 is the only other model with a 41 megapixel camera. Whilst it is quite chunky, the image quality is second to none." The nearest rival is Samsung's Galaxy S4 - with a comparatively meagre 16 megapixels. The iPhone 5 only has 8. Nokia's new model is also slimmer than the old 808. But is this enough to make people buy the phone? Mobile analyst Daniel Gleeson from IHS. SOUNDBITE (English) DANIEL GLEESON, MOBILE ANALYST, IHS, SAYING: "I don't think it's the phone to save Nokia per se. In that I don't think this is device is going to sell millions and millions. I think it's much more about creating that halo effect for the rest of Nokia's range, creating that technology leadership, and rebuilding the Nokia brand to becoming that cool phone brand that it was in the early 2000s again." But Nokia's fallen a long way since then. While it's the dominant carrier for Windows - the phones made up just 3 percent of all smartphone shipments in the first quarter this year. Android and Apple accounted for over 90. The company's also just been downgraded - with net cash forecast to fall close to just 1 billion euros at the end of the year. Nokia's new 1020 joins the top of a line-up that is trying to compete at every price range - from 600 dollars right down to 20. But with cash now a concern, it's a strategy that could be tough to sustain.