Whoa! Nokia Drastically Drops Price of Smartphone

by Tom Taulli | July 16, 2012 11:00 am

Nokia[1]In the U.S., Nokia (NYSE:NOK[2]) has cut the price in half[3] 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[4]) 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[5]), 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.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2010/08/NokiaLogo-e1287009011204.jpg
  2. NOK: http://studio-5.financialcontent.com/investplace/quote?Symbol=NOK
  3. price in half: http://in.reuters.com/article/2012/07/16/us-nokia-shares-idINBRE86F0E220120716
  4. AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
  5. MSFT: http://studio-5.financialcontent.com/investplace/quote?Symbol=MSFT

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