Telecom & Wireless
Nokia Cuts Prices, Starts Handset Price War
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The price war for market share in the cellular business have moved from carriers to handset manufacturers. AT&T (NYSE:T) and Verizon Wireless have dropped subscriber fees in a battle for US customers. Now Nokia (NYSE:NOK) will drop the prices of almost all of its handsets. Most models will be sold for 10% less than they are now.
The initial effects of the Nokia move may be on makers of mid-level phones in terms of price and function. Many of these are made by Sony Ericsson and LG. But, as Nokia brings down what consumers pay for its most advanced handsets.It will increase its competition with the Apple (NASDAQ:AAPL) iPhone and RIM (NASDAQ:RIMM) Blackberry. The could force those two companies to evaluate cost cuts of their own.
The smart phone price wars have begun in earnest.
Douglas A. McIntyre
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