Nokia has slashed prices of its cellphones across its portfolio this week, with the deepest cuts of around 10 percent seen for some smartphone models, data seen by Reuters showed on Thursday.
Nokia is struggling to battle with new rivals Apple and Research in Motion at the high end of the cellphone market, and sees a cheaper price as its strongest weapon to hold on to market share, analysts said. The company has also delayed the renewal of its Symbian software -- seen as crucial to improve its position in the high-end of the market -- to the second half of the year from second quarter, two sources with direct knowledge of the delay told Reuters. Rumours of the possible delay have made the rounds for days and analysts see this hurting Nokia's outlook for the second quarter. A Nokia spokesman declined to comment on price cuts and software delay ahead of January-March earnings due at 1000 GMT. Nokia has previously said price changes are part of its normal, ongoing business. The world's top cellphone maker usually cuts prices across its portfolio a few times each year. The deepest price cuts were seen in some of Nokia's E-series models as the firm makes room in its portfolio for new, cheaper models to roll out in coming months.
Published Date: Apr 22, 2010 03:09 pm | Updated Date: Apr 22, 2010 03:09 pm