Nokia slashes phone prices, Will Apple, Ericsson follow suit?
Cellphone stalwart Nokia has slashed the prices of its mobile phones across the globe as it said 'price changes were part of its normal, ongoing business.' According to reports Nokia has brought down prices by up to 10 percent.
CELLPHONE STALWART Nokia has slashed the prices of its mobile phones across the globe as it said “price changes were part of its normal, ongoing business.” According to reports Nokia has brought down prices by up to 10 percent. Post the slash, Nokia's cheapest model would be the 5230 available for $239 in Finland.
Over the next year, the three may struggle as other handset makers begin producing competitively priced and attractive 3G devices. According to sources, Samsung and LG have ambitious plans to grow volumes and expand their app stores, while emerging players like Dell and Huawei are strengthening their device portfolios and courting major operators. The competition will likely lead to price wars. Evidence of that may already be surfacing. Nokia, the top cellphone company in the world, reported 30 percent jump in its sales in the October-December quarter. Nokia said the average wholesale price of its smartphones dipped to 186 euros from 190 euros in the third quarter. The falling prices might pose trouble for rivals like Sony Ericsson , who have focused on mid-range phones which boast of good cameras and music players but user friendliness and computer-like open operating systems. Nokia's price cuts comes as the industry returns to growth following a grim 2009 marked by recession-hit consumer demand. Nokia says it expects the cellphone market to grow 10 percent this year.
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