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Nokia looks to Lumia 928 to reverse "road to hell" and rekindle rivalry with Apple and Samsung

Nokia CEO Stephen Elop has defended his Windows Phone-led mobile strategy, after angry shareholders accused the Canadian executive of running the company into the ground.

According to Reuters, Nokia's annual general meeting (AGM) in Helsinki has turned into something of a battleground, with peeved off investors quizzing Elop as to why the firm continues to struggle against the likes of Apple and Samsung.

"You're a nice guy...and the leadership team is doing its best, but clearly, it's not enough. Are you aware that results are what matter?" asked one shareholder, Hannu Virtanen.

Virtanen added: "The road to hell is paved with good intentions. Please switch to another road."

While Nokia's first quarter results showed some positive signs in the form of a 27 per cent jump in Lumia smartphone shipments, sales of basic handsets and feature phones - traditionally one of Nokia's strengths - dropped by around 33 per cent.

The Finnish firm is also struggling on the stock market and is currently trading at just €2.70 - a fraction of the €65 per share high recorded back in 2000.

However, despite the recent spate of unsettling news, Elop reiterated that Nokia would stay the course with Windows Phone.

"We make adjustments as we go. But it's very clear to us that in today's war of ecosystems, we've made a very clear decisions to focus on Windows Phone with our Lumia product line. And it is with that that we will compete with competitors like Samsung and Android," he commented ahead of the AGM.

But industry analysts echoed the concerns of Nokia's shareholders, saying that the decision to stick with Windows Phone and Windows Phone alone was a risky strategy

"[Elop] has closed doors. They don't have new ideas now. Their fate is all in Windows Phones," said Juha Varis, senior portfolio manager at Danske Capital.

Magnus Rehle, senior partner in Greenwich Consulting, added: "He's managed to decrease costs but not to increase market share. Maybe they could go back to Google and say we also want to go with Android. Even if it hurts."

Nokia Lumia 928 to snap at redemption?

Nokia's fortunes could improve in the near future, however. The Finnish handset manufacturer recently announced the Asha 210, an intriguing entry-level handset that features a dedicated WhatsApp button and sports a physical QWERTY keyboard.

In addition, Nokia is shortly expected to break cover with its next high-end smartphone, the Lumia 928 - possibly as soon as 14 May, when ITProPortal is lined up to attend a special UK Nokia event.

Among other features, the Windows Phone 8-running Nokia Lumia 928 is expected to feature an 8.7-megapixel "PureView" camera complete with Carl Zeiss optics. Nokia recently released a teaser video (see above) showing off the new Lumia's imaging capabilities against rivals the Apple iPhone 5 and Samsung Galaxy S3.

Elsewhere, the Lumia 928 is likely to feature a 4.5in AMOLED display, a dual-core or quad-core processor, wireless charging support, and 4G LTE connectivity.