iPhone 5S vs. Nokia Lumia 720: Will You Spend on Expensive iPhone or Opt for Awesome Nokia? [PHOTOS]

The recently unveiled Nokia Lumia 720 smart phone was perfectly designed with quality specifications and style to battle with the other smart phones from rival companies like Huawei, Samsung and Apple. With a low price, Nokia Lumia 720 will definitely draw in more customers who are still thinking about spending their money on an expensive Apple iPhone.

Nokia Lumia 720 will be worth 249 euros (US$325). "The new Lumias position Nokia very well to compete against mid-range Android devices. The phones are set to appeal to carriers seeking cheaper devices and alternatives to the dominant operating systems of Google Inc.'s Android and Apple's iOS," Francisco Jeronimo, an analyst at the research firm IDC, stated.

"Nokia Lumia 720 is set to start shipping this quarter and will be available from carriers including China Mobile Ltd. (941)," Chief Executive Officer Stephen Elop stated during the 2013 Mobile World Congress held in Barcelona, Spain.

The Lumia 720 will roll out this year in the markets of Hong Kong, Vietnam and Singapore. The smart phone will have a wider market when it reaches China, Europe, Asia, Africa and India.

For the Apple smart phones, the iPhone 5 begins at $649 when purchased without a carrier contract. It is anticipated that the upcoming iPhone 5S or iPhone 6 will have a much higher pricing strategy.

"One of our sources claims that Apple's iPhone prices remain too high for most mainland Chinese customers. The iPhone 5 hardware alone starts at $849 there versus the iPhone 4 at $500, in a country where the average annual salary is around $3,000 per person," Jeremy Horwitz, the iLounge editor-in-chief, reported in January.

Katy Huberty, a Morgan Stanley Analayst, pointed out the fact the people nowadays are searching for a cheaper Apple iPhone that still offers high-quality smart phone experience.

Jeremy Horwitz further noted in the report: "The source has said that mainland Chinese iPhone 5 sales are already tapering off as a result of the pricing, which is higher than in Hong Kong. A budget iPhone model would help sales in populous but underdeveloped countries to grow."