Nokia Corporation (ADR) (NOK): Is the Lumia 928 Real, or Sasquatch?

Nokia Corporation (ADR) (NYSE:NOK) is licking its wounds, but it’s moving forward with some plans to reveal some new devices in the coming weeks. CEO Stephen Elop hinted at a ‘hero device’ to be released sometime during this current quarter. Rumors are swirling that this ‘hero’ just might be a phablet device of at least 5 inches that would run a Windows 8 OS by Microsoft Corporation (NASDAQ:MSFT). However, there has been a lot of talk that another high-end Lumia handset is due to hit store shelves any day now, but Nokia has been remarkably silent about it.

The Lumia 928 rumors just won’t go away, thought Nokia Corporation (ADR) (NYSE:NOK) is on the record saying that such a phone is a dirty, dirty rumor. So is this just a Sasquatch that the tech media have been completely wrong about? Or does this phone truly exist?

Nokia Corporation (ADR) (NOK), Microsoft Corporation (MSFT)

We may not know for a while yet, though there are some tips floating that an announcement regarding a new Nokia Lumia flagship handset may be coming as soon as next Thursday, April 25. Talk has gone for weeks that if such a smartphone exists, Nokia had reached a deal with top U.S. wireless carrier Verizon Communications Inc. (NYSE:VZ) to be the exclusive provider of the Lumia 928, while AT&T Inc. (NYSE:T) and other U.S. carriers will feature the other two high-end Lumia handsets, the 820 and 920.

With the Lumia 520, 620 and 720 all seeing store shelves in the past month to go along with the premium smartphones, Nokia Corporation (ADR) (NYSE:NOK) is trying to cover as much ground as it can with its smartphones in varying price points – which it appears it will need to do if it’s going to overcome dwindling mobile and feature phone sales as evidenced by the quarterly earnings report that was released Thursday morning and disappointed investors and analysts. The Lumia line is and will be the driver of the company’s profit margins going forward, and the success of that line will ultimately decide the fortunes of the company.

A year ago, Lumia handsets accounted for only about 2.5 percent of total sales by Nokia Corporation (ADR) (NYSE:NOK), while this year that percentage jumped to 9 percent of sales. That helped Nokia cut its losses by more than 50 percent even while sales fell by 25 percent from a year ago.  But will the 928 be white noise as something close to the 920, or will this be an upgrade and thus seen as a new  member of the Lumia line?

While again, Nokia won’t comment officially even on the existence of a Lumia 928 handset, the talk is that this new phone will be lighter and thinner than the 920 and is reportedly going to have a Super AMOLED display, which would make it an upgrade from the 920. But whether this handset actually exists, we may hve to wait and see, because Nokia Corporation (ADR) (NYSE:NOK) sure is playing its cards close ot the vest – but based on the reaction of the markets to this quarterly report, should Nokia play so coy?

What are your thoughts? Does Nokia need another Lumia handset in the U.S. market or around the world? There are indications that there is still a pricing gap between Lumia and Asha devices; should Nokia address that issue? Where do you see Nokia going from here? Let us know your thoughts in the comments section below.