Whoa! Nokia Drastically Drops Price of Smartphone

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In the U.S., Nokia (NYSE:NOK) has cut the price in half of its Lumia 900 smartphone to a new price tag of $49.99.

Considering the device came out just three months ago, it’s starting to look like it’s time to call the Lumia 900 a dud.

The Lumia was meant to be a way to fight back against the successful products shilled by Apple (NASDAQ:AAPL) and Samsung, but there has been little to differentiate the device.

And it’s not clear if a price cut will do much. Nokia’s partner, Microsoft (NASDAQ:MSFT), has essentially obsoleted the device, as it won’t be fully compatible with the upcoming launch of Windows Phone 8.

Nokia’s second-quarter earnings report comes out Thursday — unfortunately, it’ll probably be just another chance to announce more bad news.