Finnish mobile manufacturer Nokia may need to explain itself on the pricing of its new handset. The Nokia Lumia 920 is the make or break device for the company and its pricing is crucial for the success of the smartphone and how it would fare in the market.

Swedish carriers are said to be charging around 5,700 Swedish crowns, $860. In Italy, the Lumia 920 will be 599 Euros or $770 while in Germany, the cost of the Nokia Lumia 920 will be 649 Euros. Its price is almost close to the pricing of the new iPhone 5.

This unreasonable price may turn off possible buyers who may think that they will not get what they will pay for. Although Nokia boasts some of its smartphone's amazing features, the price tag is of vital importance in determining the position of the device in the market.

Is the cheaper Samsung Galaxy S3 a better choice for a smartphone? The four month old Samsung smartphone proved to be less expensive than Nokia's flagship phone. Comparing the specifications of the two, Nokia may not be able to justify its hefty tag price.

Samsung Galaxy S3 was introduced last May and gained popularity due to its amazing features, including a big screen display, 4G/LTE connectivity, NFC support, etc. At the second quarter of this year, Samsung Galaxy S3 rose to stardom due to its immense sales worldwide.

Nokia, which was once sitting on top of the mobile phone market, also introduced its prime smartphone in the market early this month. Nokia showed off its Lumia 920 powered by the new Windows Phone 8 operating system. Some of the smartphone's specs and features include PureMotion HD+ 4.5 inch display (1280 x 768 resolution), Dual-core 1.5GHz Snapdragon S4 processor, NFC chip, 2,000mAh battery, and Qi wireless charging. Nokia is touting the Lumia 920′s premier feature as its new camera lens.

The two smartphones are considered as the top contenders of Apple's 2012 flagship phone - iPhone 5. Nokia Lumia 920 is rumored to be available on October 21.