How Microsoft Can Boost the Struggling Surface

NEW YORK (TheStreet) -- Microsoft (MSFT) has announced the release of its third-generation tablet/laptop computer, the Surface Pro 3, in two dozen additional worldwide markets, as it hopes of boosting sagging sales.

Microsoft shares were gaining 0.02% to $43.09 in mid-morning trading in New York.

Microsoft will begin selling its Surface Pro 3 in China, Australia, the U.K. and a good portion of Europe beginning Aug. 28th. In May, Microsoft introduced the mid-priced version of the device. Earlier this week, Microsoft announced the release of it's lower and higher-end Surface Pro 3s - the $799 Intel (INTC)i3 equipped and the $1,949 i5 models.

Read More: Why Satya Nadella's Vision Is More Important Than Microsoft's Earnings

Last month, Microsoft reported earnings of 55 cents per share on revenues of $23.4 billion, noting the Surface accounted for $409 million in revenues in the quarter - a mix consisting mostly of older Surface Pro 2s and the newly released Pro 3s. In the previous quarter, Microsoft had reported Surface sales of $500 million.

CLSA analyst Ed Maguire believes Europe should be a good market for the latest  Surface hybrid while Asia could be a more "wait and see" proposition. "The challenge comes from low-end devices," Maguire said in a phone interview. "But Microsoft has different targets in mind. It priced the base device lower than Apple's  (AAPL) MacBook Air because that's where it wants to compete."

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