The unlocked and off-contract Nokia Lumia 920's price tag is still US$700, according to reports. Is the device still worthy of your hard-earned money?

Nokia Lumia 920 sports the $700 price tag. After two weeks on pre-order list, the Nokia Lumia 920′s price is unchanged and still sports the same price tag.

Usually, prices of unlocked phones go down based on the number of pre-orders and overall demand and supply. Thus, it seems that the device is not as popular as the iPhone 5 or the Samsung Galaxy S3. However, there is no official statement from the Finnish manufacturer on how many units of the device were pre-ordered.

The Nokia Lumia 920 will be arriving at the US market via AT&T next month and experts say that the smartphone will cost you around $199.99 to $249.99 like the Samsung Galaxy S3 and the new Apple iPhone 5 on contract.

The Finnish mobile manufacturer Nokia countered this move and also introduced its prime smartphone in the market early this September. 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.

Nokia Lumia 920 is the "make or break" device for Nokia. If the device does not do wonders in the market, is it time for Nokia to throw the towel?

With the aforementioned features, are you willing to shell out the price indicated above when you can already buy an iPhone 5 or Samsung Galaxy S3 and when there are plenty of cheaper alternatives in the market? This show how intense is the competition is in the smartphone market.

The Nokia Lumia 920 is reported to arrive in Australia on November 5 and will be available at Telstra.