Nokia Slashes Smartphone Prices as Sales Plunges
Reuters is quoting two sources in Nokia reporting that the Finnish giant has slashed the retail rates of its N8, C7 and E6 smartphones. Nokia has seen its smartphone market share drop drastically and this might have forced the executives to think of pricing as a strategy. This might not help much because Nokia leaders have not woken up to reality and their focus even in Kenya has been on those who will never deliver to them numbers.
Reuters is though quoting a Nokia spokesperson terming the price cuts as “business as usual”. Within one year, Nokia smartphone market share has dropped from 39% to 25.5 globally according to Gartner. This is also expected to dip further with strategy and inconsistency blamed in all thee loss.
In Kenya, the Nokia E7 has been struggling since launch with the price now below the Ksh 49,000 mark. It was initially launched at around Ksh 53,000. This is more than 8% drop in a very short period. The prices might go further south.