Nokia (NYSE:NOK) Launches its Lumia 510 Especially for Emerging Markets Around the Globe

Nokia Corporation (NYSE:NOK), struggling to recover its position in the smartphone market with its new Lumia devices, launched a reasonably priced Lumia 510 on Tuesday targeting emerging markets around the globe.

The company said that the Lumia 510 will cost approximately $199 and will be introduced initially in China, India, Latin America and a few other growing markets, where most of the people don’t prefer smartphones due to their high costs.

The Lumia 510 is the eighth smartphone in the Lumia series running Microsoft’s (MSFT) Windows operating system. Nokia is anticipating that its Lumia devices will boost its sales and will play a vital role in its success.

Nokia is struggling in the smartphone market, largely dominated by Google’s (GOOG) Android and Apple’s iOS. The latest release is a part of Nokia’s strategy to make a full range of alternatives to Android and iOS phones.

At the current trading session, Nokia Corporation (ADR) (NYSE:NOK) shares are down -5.16% to $2.66 while the stocks are trading within the range of $2.61 – $2.71. In the past year, the stock has traded within a range of $1.63 – $7.38. Average daily trading volume is 48.59 million shares.

If we look at a few other hot stocks at the tech sector, NVIDIA Corporation, Texas Instruments Incorporated and Groupon Inc were in the top volume leaders. Let’s have a quick look on their Market performance.

NVIDIA Corporation (NASDAQ:NVDA) shares are up +3.26% to $12.36 while the stock is trading within the range of $11.83 – $12.36 in the current trading session. In the last 12 months the shares have traded between $11.63 and $16.90. The average daily trading volume is 9.96 million shares.

Texas Instruments Incorporated (NASDAQ:TXN) shares in the current session moved down -0.40% reaching $27.68. The stocks are trading in a range of $27.21 – $27.83. In the last year the stock has moved within a range of $26.06 – $34.24. The Company’s average daily trading volume is 9.63 million shares.

Another rival company, Groupon Inc (NASDAQ:GRPN) is trading down -2.62% to $4.46. Intraday trading recorded the stock price in a range of $4.35 to $4.53. In the previous 52 weeks the stock’s price ranged between $4.00 and $31.14. Their average daily trading volume is 11.60 million shares.

Microsoft Corporation (NASDAQ:MSFT) shares in the current session moved up +0.32% reaching $28.09. The stocks are trading in a range of $27.76 – $28.19. In the last year the stock has moved within a range of $24.30 – $32.95. The Company’s average daily trading volume is 49.53 million shares.

Google Inc (NASDAQ:GOOG)’s stock gained +0.88% to move at $684.59 with 2.05 million shares exchanging hands. On average, it trades 3.61 million shares. The price range today is $672.00 to $687.33, which in the last 52-weeks floated between $556.52 – $774.38.