Nokia to sell 2 million Lumia phones in Q4, Deutsche Bank says

Fourth-quarter sales of Nokia’s new Lumia line of smartphones will reach 2 million units, Deutsche Bank reaffirmed this week. Nokia’s stock took a hit this week as a number of analysts cast a shadow on its debut Windows Phone-powered smartphones. Pacific Crest’s James Faucette cut his sales estimates this quarter from 2 million units to just 500,000, and Bernstein Research analyst Pierre Ferragu said the phones were too expensive and lacked innovation. Analysts at Deutshe Bank disagreed, however, reiterating earlier sales estimates of 2 million Lumia phones this quarter. No doubt bolstered by an Xbox promotion, Nokia announced earlier this week that its flagship Lumia 800 has been difficult to keep on store shelves in the United Kingdom. Nokia has not yet announced its plans for Windows Phone devices in the U.S., though the vendor is widely expected to launch its Lumia 800 and several additional models in the U.S. in early 2012.

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