Pitched as an early indicator as to Nokia's chances of muscling its way back to the top of the smartphone business, analysts questioned by Bloomberg have suggested the Finnish firm could have sold more than 1 million Lumia handsets before the end of 2011.

The site called upon a total of 22 different analysts who, on average, estimated 1.3 million units may have been shifted in the last couple of months of the year.

 

The highest figure came in at 2 million, with only one analyst suggesting Nokia sold less than 1 million handsets.

Solid start

"The numbers look promising," Oslo-based Storebrand Asset Management fund manager Espen Furnes told the site of Lumia's start.

The estimates are based on projections for Nokia's Lumia 800, which went on sale in Europe in November, and the more budget-conscious Lumia 710, which initially rolled out in territories in western Europe and Asia at the same time.

"If Nokia is able to have a strong launch and surpass at least 1 million and keep that type of momentum, this would help put them in a credible position that is crucial to winning back investors."

Despite enthusiasm from developers (as gauged by PG.biz at the time), many investors were unsure as to whether Nokia's decision to back Windows Phone – essentially abandoning Symbian and MeeGo ion the process - would pay off.

Indeed, Bloomberg claims the firm's shares lost a total of $19 billion in market value throughout 2011, following the unveiling of Nokia and Microsoft's strategic partnership in February.

An eye on iOS

Nokia itself is yet to release any official sales figures for any of the Lumia range, with CEO Stephen Elop keeping projections in check and, instead, describing the current line-up at CES 2012 as a way of "establishing beachheads" on Windows Phone.

Nonetheless, analysts appear bullish following the unveiling of the currently US-only Lumia 900, suggesting Nokia could account for the bulk of Windows Phone's share as – if IHS iSuppli is to be believed – it overtake's iOS to nab second spot behind Android by 2015.

[source: Bloomberg]