Nokia Slashes Cellphone Prices as Much as 10%

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Trying to put pressure on their competition, or feeling the pressure from increasing Samsung and LG market share, Nokia has reduced many handset prices by 10%-mostly music and media phones-but also making discounts across the whole portfolio. Analyst and Sean Connery-fan David Hallden calls the move a Crazy Ivan:

This is basically a way to run away from competition. You're putting a lot of pressure on your less competitive peers. I think they're doing a Crazy Ivan.

And we think you are watching too many submarine movies lately, David, but you may be right. In any case, cheaper phones are good for everyone. [Reuters]