Nokia cuts prices, shares fall 5% more

Loss-making Nokia has slashed prices of its older smartphone models using Microsoft Windows software, industry sources said on Thursday, a day after investors gave its latest Lumia phones a thumbs-down.

Loss-making Nokia has slashed prices of its older smartphone models using Microsoft Windows software, industry sources said on Thursday, a day after investors gave its latest Lumia phones a thumbs-down.

The Finnish group cut the price of its mid-range Lumia 800 Windows Phone by around 15% this week and made smaller reductions on other Windows models, said sources.
Nokia shares continued falling after slumping 13% on Wednesday as the firm unveiled two new Windows Phone models in what may be the last shot at reclaiming marketshare lost to Apple, Samsung and Google.

Nokia did not disclose the price or roll-out dates of the new models and its share fell a further 5.3%.