Nokia cuts phone prices

10% reductions to put pressure on rivals


31 July 2008 14:35 GMT / By Amy-Mae Elliott

Reuters is reporting that Nokia has cut prices of many of its phones by up to 10% in late July, with the biggest cuts in music and media phones, according to market data and industry sources.

It's thought Nokia, which controls 40% of the mobile phone market, has done it in order to put further pressure on its rivals. A European industry source said that the 5310, 5610 and multimedia handset N81 8GB saw the biggest price cuts.

A Nokia spokesman declined to comment to Reuters on the price cuts: "If we would start to comment on prices there would be no end, they are changed so often".
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