Nokia is going to lower its prices
Nokia is going to lower the prices of a large amount of its mobile phones, says Reuters. By doing so, the biggest producer of mobile phones is trying to keep its market share.
The mobile phones that will have the highest decrease of their prices are music and media mobile phones, like the 5310 XpressMusic and 5610 XpressMusic and the N81 8GB. The prices will be cut down by estimated 10%. Other mobile phone prices will also be lowered, but not as extreme as the entertainment devices.
Nokia owns approximately 40% of market share. With announcing the lowering of prices Nokia is hoping to maintain it's market share, but it also wants to hurt its competitors that are facing decreasing profits. Among them are Motorola and Sony Ericsson. Sony Ericsson even didn't make any profit last quarter and is in a position that they have to cut 2000 jobs.
Source: Reuters
