Nokia will unveil its new Lumia 920 smartphone Wednesday and the stakes are high. It could give both Nokia and Microsoft a leg up against the dominant Apple iPhone and smartphones the run with Google’s Android operating system.

According to tech analyst Rob Enderle, the Windows-powered phone does have one benefit for the majority of users running Windows on their desktop computer: convenience.

“Having the same interface on my phone makes it quite a bit easier than jumping back and forth,” Enderle said.

Which is the kind of thing Microsoft and Nokia are hoping to capitalize on when they introduce their new designed-from-the-ground-up smartphone, based on the same Windows 8 system that’ll run next-generation PCs.

Nokia has been struggling to come up with a hit — and rapidly eating away at its bank account in the process. Enderle says they’re out of options.

“They don’t have the time,” he said. “This has to work for them, they’re burning through too much cash. This is an all-or-nothing effort.”

It’s not so dire for Microsoft. In fact, things are looking up since Apple won its big patent lawsuit against Samsung phones using Google’s Android system. Enderle explains that’s got other handset makers running scared.

“Suddenly, most of the Android guys are taking another look at Microsoft because of the litigation,” he noted.

And if Nokia’s new Lumia is a hit, he added, it could change the smartphone landscape yet again.