Nokia takes the cut-price road to get back in iPhone/Samsung race
Nokia, once the darling of the world's cellphones, is planning steep price cuts to get back in the worldwide cellphone race.
Lumia 900: "Beautiful" says the NYT
CEO Stephen Elop said in Stockholm that sales of its new Lumia smartphones have been mixed and he plans to "deeply" lower prices of new Lumia devices to take on Asian rivals in emerging markets.
The Finnish company said its loss in the three months to March 31 was $1.76 billion, compared with a $577 million profit a year ago. Analysts had expected a loss of around half that at $960 million, said the Wall Street Journal.
Elop started on the bright side: Lumia sales had "exceeded expectations in markets including the United States," he said
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There the new Lumia 900, described as "beautiful" by the NY Times, is available for $100 half the price of an iPhone. But in certain markets, including the U.K., things "had been more challenging."
Consumers have been bypassing Nokia phones to go for cheaper android cellphones by makers like Samsung.
With Android prices dropping, "A very clear part of our strategy is to drive the prices of our Lumia devices deeply down, so we can compete effectively," said Elop. Apple and Samsung have been Nokia's chief foes.
Well, $100 is a good start.