July 18, 2012

Slow sales causes Nokia to slash prices

Nokia is cutting prices fo its flagship-phones to battle slow sales and tough competition from companies such as Samsung and Apple.

The Lumia 900 is now priced at just below 50 dollars, down from 99, when signed with a two year agreement. Nokia spokesman Keith Nowak told news site Reuters. These changes are "part of our ongoing lifecycle management, which is jointly done between Nokia and carrier customers".

He also pointed out that other companies are also reducing prices. Samsung, as an example, has cut the price of its S2 Galaxy.

Sales for Nokia, however, seem to have been slow. Add to that the Microsoft announcement that older phone will not support Windows 8, and the struggling phone-maker is dealing with another blow to struggling sales.

Nokia is expected to report the Q2 fiscals on July 19, 2012. Analysts expects a major loss – once again.
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