The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.NEW YORK ( Trefis) -- Barely have the wraps been taken off the new Lumia 900 before a glitch has surfaced with the phone that is causing a loss of data connectivity. To Nokia's ( NOK) credit, they not only acknowledged the issue just two days after the launch but also promised a quick software fix for the bug by April 16. Moreover, the company is also offering to credit the AT&T ( T) accounts of all those who buy the Lumia 900 before April 21 with $100 as a goodwill gesture. If one needed further proof of how important this launch is for Nokia in the face of increasing competition from Apple's ( AAPL) iPhone as well as Android smartphones, this is it. See our complete analysis for Nokia
For its U.S. foray, AT&T has proved to be more than a willing partner as the carrier searches for a third mobile ecosystem to quell the growing dominance of Android and iOS. The close partnership between Nokia and Microsoft has helped them in tightly integrating software and hardware, which has reduced component costs while not compromising on the user experience. This is what has helped Nokia set a lowly $450 price on the high-end unsubsidized Lumia 900 without taking a big hit to margins. Where the Windows ecosystem might fail is the lack of apps, which play a big role in attracting customers to a smartphone. However, Nokia can take heart from the fact that even Android was slow out of the blocks in garnering developer support for its platform. What Android has shown is that for developers to jump on a platform, they must see it being adopted by smartphone users in large numbers. So, it is crucial that Nokia reach that critical mass by getting the Lumia into as many hands as possible. In this respect, the online Lumia sales have so far been heartening with the phone topping Amazon's best-seller charts since its launch on Sunday despite the data connectivity concerns. Also, in its preliminary guidance for the second quarter of fiscal year 2012, Nokia said it has sold 2 million Lumias worldwide, about double the previous quarter. So, while it may be a tough period of transition for Nokia as the company shifts its focus from Symbian to Windows Phone, its new Windows Phones are gradually gaining traction and should help it stem market share losses over time. Our price estimate for Nokia's stock is $6.50, about 20% ahead of market price. Click here to find out how a company's products impact its stock price at Trefis. Like our charts? Embed them in your own posts using the Trefis Wordpress Plugin.