Nokia's (NYSE: NOK) new handset failed to impress investors, who sent the stock tumbling more than five per cent.
The Windows phone, called the Lumia 925, is the latest in the namesake series. It has an upgraded camera and is lighter and thinner than its predecessors.
Nokia will launch the smartphone in five countries - UK, Germany, Italy, Spain, and China - to start, followed shortly after with the U.S. release.
Nokia was not the only company whose new device did meet shareholder expectations. At its developer conference in Florida, Blackberry (TSE: BB) revealed the Q5, a handset with a physical keyboard targeted at emerging markets.