Nokia cuts prices of older Windows phones
As per industry sources, after dropping of share price Nokia has cut prices of its older smartphone models using Microsoft Windows software. Nokia which is is struggling to get back ground lost to its competitor, cut the price of its mid-range Lumia 800 Windows Phone by around 15 percent this week and made smaller reductions on other Windows models.
Nokia shares continued falling on Thursday after slumping 13 percent on Wednesday as the firm unveiled two new Windows Phone models in what may be the last major shot at recover market share lost to Apple Inc, Samsung Electronics Co Ltd and Google Inc. The lower prices will hurt Nokia's bottom line, particularly in September and October as analysts expect the new models to begin contributing to results only the following month.
Retail prices of smartphones using Google's market leading Android software have dropped below $100, a level other smartphones are struggling to reach due to their high requirements on features like processing power.