Nokia cutting prices up to 25%?

A rumor for now… could certainly drive some serious demand for the 6600 amongst others… Have to see if carriers pass it along or gobble up the profits for themselves.

In a move to help offset its falling market share, analysts now predict that Nokia will cut prices on its mobile phones by an average of 10 percent to 20 percent and up to 25 percent on some low-end models. The price cuts are expected to hit some handset makers hard, especially South Korean company LG. LG is the world’s fifth-largest mobile phone maker and primarily targets the low-end and mid-level phone segments. LG and other handset rivals have gained market share in recent months thanks to Nokia’s loss in share. Nokia last month shocked investors and financial analysts by issuing first-quarter profit warnings twice within 10 days. The company’s stock price plummeted 31 percent. Nokia is fighting to regain its lost handset market share and to regain its position as the industry design and trend leader. [The Korean Herald via FierceWireless]

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