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Electronics Production | August 06, 2008

Nokia’s price cut puts pressure on smaller rivals

July’s price cuts by Nokia for some of its music and multimedia phones have put pressure on the smaller rivals of the Finland based mobile phone manufacturer.
Nokia, which controls around 40% of the global handset market, has cut prices by 10% in July for some music and multimedia phones. Most smaller rivals – that have focused on high-end, more expensive models are faced with the decision to go along and cut prices to, or keep prices as they are.

Global mobile phone makers are facing an increasingly fierce battle for a greater market share. Demand for premium phones is slowing down in the US and European electronics market. Additional to that both economy areas are troubles by the ongoing credit crisis.

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