After Nokia (NYSE: NOK) signed a branding  deal with smartphone manufacturer HMD Global early last month, the first phone to hit the market under the arrangement went on sale in China early Thursday -- and sold out in all of one minute. The Nokia 6 is the first of what are expected to be more relatively low-cost phones selling to the public for the equivalent  of approximately $247.

There is a caveat  in that it isn't known -- or at least mspecifics have not been released -- how many Nokia 6 phones were included in the initial "flash sale." One strategy sometimes employed when a new product debuts is to limit the initial number available because it simply sounds better to be "sold out," which can also energize prospective customers the next time the devices go on sale.

That said, there were reportly  more than 1 million consumers registered for the sales debut of the Nokia 6. HMD hasn't announced the next time it will be made available in China -- currently the smartphone's only market, though that is likely to change -- but so far, so good.

The low-cost smartphone was generally well received when it was first introduced ahead of its initial sale. Though the Qualcomm Snapdragon 430 chipset at its heart doesn't pack the punch of many upgraded alternatives, its 64GB of memory, 1080p screen resolution, and respectable camera make it a lot of smartphone for the price.


10 stocks we like better than Nokia
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and Nokia wasn't one of them! That's right -- they think these 10 stocks are even better buys.

Click here to learn about these picks!

*Stock Advisor returns as of January 4, 2017

 

 

Tim Brugger has no position in any stocks mentioned. 

Want to learn how to invest?

Get a free 10 week email series that will teach you how to start investing.

Delivered twice a week, straight to your inbox.