Nokia Slashes Mobile Phone Prices as Much as 10%

Trying to put pressure on their competition, or feeling the pressure from increasing Samsung and LG market share, Nokia has reduced many handset prices by 10%—mostly music and media phones—but also making discounts across the whole portfolio. Analyst and Sean Connery-fan David Hallden calls the move a Crazy Ivan:

This is basically a way to run away from competition. You're putting a lot of pressure on your less competitive peers. I think they're doing a Crazy Ivan.

And we think you are watching too many submarine movies lately, David, but you may be right. In any case, cheaper phones are good for everyone. [Reuters]

Trending Stories Right Now