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Nokia Cuts Smartphone Prices as Share Drops, CCS Insight Says

Nokia Oyj, the world’s biggest maker of mobile phones by units shipped, cut its smartphone prices in Europe by as much as 15 percent at the beginning of this month, according to analyst firm CCS Insight.

“We’ve absolutely seen the drops,” Ben Wood, a London-based analyst with CCS, said in an interview. “They’re under aggressive pressure from entry-level players and equally their customers in the channels know they’re in a strong negotiating position.” Reuters reported the price drop earlier today, sending the stock down as much as 3.1 percent.