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Nokia Price Slash By 15% Causes Sudden Drop In Its Market Share

nokia pricesNokia has reduced the prices of its smartphones in Europe in an effort to slow the drop in its share of the higher end of the market, according to some industry sources. One of the sources with direct familiarity of Nokia’s pricing informed that the steepest slash of around 15 percent were made on prices for the company’s flagship model, the N8, the multimedia phone C7, and the business handset E6. Other price cuts were relatively smaller, both sources confirmed. “There are no very big cuts per model, but the scale – across the portfolio – is unseen for a very, very long time,” as per one of the sources, who is currently working at a European telecoms operator. Nokia shares also dropped sharply on the news and were 2% lower at 4.35 by 1256 GMT. A Nokia spokesman refuses to make any comment on specific prices and says price changes were part of its normal business.

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