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Crazy Stephen’s Nokia City — Our Prices Are Insaaaane!

Published on July 5, 2011
by John Paczkowski

With its first Windows phones still a few months away from launch, Nokia is doing all that it can to preserve what’s left of its smartphone market share.

Its latest move to shore up its deteriorating position: price cuts on some of its high-end smartphones. Industry sources tell Reuters that Nokia has slashed the prices of its N8, C7 and E6 handsets in Europe, in some cases by as much as 15 percent.

Nokia insists the price changes are simply business as usual, which is true to an extent. That said, cuts of 15 percent seem quite a bit more substantive than Nokia’s typical quarterly price reductions.

“All the major houses cut prices two to six times a year, typically in small adjustments,” Strategy Analytics analyst Neil Mawston told Bloomberg. “For a company like Nokia, anything above 5 percent is an above-average adjustment. With revenue declining sharply because of unusually weak demand, they’ve got to make these large price cuts.”

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