Nokia to Slash Handset Prices by 10 percent in Q4

With the growing momentum in the smartphone market, Nokia is pushed to slash the price of its handset by 10 percent in Q4 of 2011 to boost its sales globally.

Eldar Murtazin posts the news on his Twitter account, Nokia are going to cut prices for the whole product line by 10 per cent in September. The price reduction is set to occur across the board on a worldwide scale.

Nokia, once the global leader in the smartphone market, has seen its sales dip as consumers in Europe and America are favoring Google’s Android-based and Apple’s iOS-based iPhones.

Nokia sold 107.6 million mobile devices in the first quarter of 2011, says Gartner. Its market share declined 5.5 percentage points year-on-year, and its share has reached its lowest since 1997.

Nokia entered a strategic partnership with Microsoft to produce Windows Phone handsets while dropping Symbian altogether. But, how Microsoft will treat Nokia especially when others - Samsung, ZTE, Huawei, LG and others - are lining up, remains to be seen.

Reports say Nokia’s PR team said, “Price changes are part of our normal, ongoing business and from time to time we may adjust prices for specific products in specific locations. All business as usual.
The price drop is expected to coincide with the launch of the first Nokia Windows Phone handset and its first (and last) Meego smartphone.