On Wednesday, at a press conference, Nokia made its Lumia 920 official, which on the contrary, resulted in a drop of the firm’s shares drastically.

Already undergoing trouble, launching Lumia smartphones with Windows 8 operating system is a hope for Nokia to sail through its troubled time as the firm faces competition.

But the plunge in stocks by investors has created a shaky situation, with rising doubts weather Nokia will be able to pull it off, particularly with competition in the market as Apple, Samsung and HTC also plan to launch their smartphones.

Nokia shares plummeted as much as 13 percent and were trading nearly 10 percent down for a share price of $2.55 at noon.

Let’s take a look at the smartphone’s specifications:

Starting with Nokia Lumia 920, the smartphone is designed with a PureView camera that can stabilize and decrease blur to offer clear picture. It has a touch screen feature, which works even when users wear gloves.

The smartphone is designed with an inductive charger, which lets users set it on a charging plate instead of fumbling with a micro-USB port.

The Lumia 920 also supports Windows Phone 8 DNA, and users can sync it with SkyDrive and Windows tablets.

Now with Lumia phones, users will also be able to use PowerPoint, Excel, and Word as it comes incorporated with Microsoft Office and Outlook.

The Lumia 920 is 0.4-inch in thickness and has a display of 4.5-inch.

The smartphone will also have a near-field communications (NFC) chip. There will also be a dual-core Snapdragon S4 1.5 Ghz processor and 32GB of on-board memory with 7GB in the SkyDrive.

Nokia Lumia is launched in a range of colors including red, yellow, silver, white, and black.

Second in the line, Nokia also announced the Lumia 820, which is designed with different-colored charging shells and matching headsets in red, yellow, white, blue, purple, gray, and black. So users get a lot of choice in terms of colors and can pick one that suits the best.

This phone has a screen size of 4.3-inch, a little smaller than the Lumia 920.

The Lumia 820 also boasts of a Snapdrgaon S4 1.5 GHz dual-core processor, with 8GB of on-board memory, and 7GB of storage in SkyDrive.

This phone is somewhat thinner as compared to the 920. It has a width of just 0.3-inch.

The pricing or the availability of the devices was not released.