Nokia Slashes Prices Of Their Phones

In a move that has surprised many, Nokia has slashed prices on its cell phones up to 10% on certain models. The phones that faced the most price cuts were the music and media phones, which will put Nokia in a good position to challenge Sony Ericsson’s Walkman lineup. With the 40% market share of the global cell phone market that Nokia already has, this move will apply quite a bit of pressure to competitors such as Sony Ericsson and Motorola, who must be wondering whether to cut prices on their phones too.