Nokia Reduces Prices on its Phones, Delays Next Symbian Version

After a selloff on Thursday, Nokia shares slumped as much as 13% after the Finnish phone giant’s first-quarter results missed analysts’ expectations on both sales and profit. The strong hold European market sees a drop of 30% in shipments. Nokia issues cautious outlook for the second quarter as the new version of Symbian has been pushed to second half of the year .

For the second quarter, Nokia uses its only weapon to fight , price cut on its cellphones across its portfolio. The deepest price cuts were seen in some of Nokia’s E-series models. of around 10 percent.

[Via Reuter]

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