High demand, low supply. That has been the trend since Nokia’s flagship Lumia 920 smartphone hit markets in early November. Because of the supply shortages, it has been difficult for analysts to determine just how well the Lumia 920 has been selling a month after launch. Despite the confusion, investment firm Canaccord Genuity recently performed channel checks and determined that Lumia 920 has indeed been attracting a considerable amount of consumer attention.

While the iPhone 5 was undoubtedly the highest selling smartphone in the United States last month, with the Galaxy S III trailing behind in second place, the Lumia 920 managed a respectable third-place finish in November sales. The Lumia 920 was the top-selling Windows Phone smartphone on AT&T last month, whereas the HTC Windows Phone 8X took the top spot on both T-Mobile and Verizon Wireless.

“While our checks indicated the Lumia 920 was the top-selling Windows smartphone at AT&T and #3 selling device at that channel, we believe iPhone dominated AT&T’s sell-through volume,” Walkley wrote in his research note.

Microsoft CEO Steve Ballmer has noted in the past that he plans on positioning Windows Phone as a legitimate third-place competitor, so the third-place Lumia 920 has already hit the sweet spot. It’s unlikely that any Windows Phone will ever surpass the iPhone or top Android smartphones in the foreseeable future, but Microsoft has proved that it can willingly compete alongside the two major platforms. And as a consumer, that’s music to my ears.