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Nokia to Drop Phone Prices Up to 10%

July 31, 2008 in Wireless Industry News

Now’s the time to buy a Nokia: according to Reuters, the phone manufacturer has slashed prices on its cell phones, most notably the XpressMusic and media phones like the 5310, 5610, and N81.

Nokia drops prices, pulls a 'Crazy Ivan'

Nokia drops prices, pulls a ‘Crazy Ivan’

Whether this bodes well for Nokia’s future earnings prospects remains to be seen. One thing is pretty sure though: everyone’s favorite metric, average selling price (ASP) is bound to go down as a result.

The move also hits other phone makers where it hurts, especially for Sony Ericsson – whose most recent earnings report revealed a 97% drop in profits.

It’s nice to know that you can always count on an analyst to brighten up your day with a random commentary:

“This is basically a way to run away from competition. You’re putting a lot of pressure on your less competitive peers,” said David Hallden, analyst at Cheuvreux.

“I think they’re doing a ‘Crazy Ivan’,” Hallden said, referring to a naval maneuver when a submarine makes a sudden sharp turn.

Nokia. Crazy Ivan. Wow.

Nokia cuts phone prices, pressuring rivals

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Current Phone Prices, Courtesy of PhoneMatchUp!

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