Wednesday, 6 July 2011

Nokia price cuts

Nokia (OMX: NOK1V) was again under pressure on Tuesday as Reuters reported citing industry sources that Nokia has already had to slash smartphone prices in Europe as it tries desperately to hang onto relevance before new Windows models come out.

According to the report, the steepest cuts were made to the high-end models N8, C7 and E6 but prices were cut across the entire portfolio. Cuts for N8 could be simply considered an anticipation move ahead of the upcoming N9 release. Nomura predicted a month ago that Samsung will become the world’s largest smartphone maker in Q3.

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