Nokia Unveils Cheaper Smartphone

2012-02-27T19:00:00+05:30

Cell phone maker Nokia Corp has unveiled two new handsets that it hopes will revive its fortunes at the start of the worlds largest mobile phone trade show on Monday

Chief executive Stephen Elop told reporters at the Mobile World Congress in Barcelona that the new phones - a low-price euro189 ($254) smartphone that runs on Windows software and a handset with a high-resolution 41 megapixel camera - demonstrates "the actions necessary to improve the fortunes of Nokia."
Analysts said the new smartphone could attract users because of its low price but investors sent Nokia shares down more than 5 percent to euro4.

Nokia has lost its once-dominant position in the global cell phone market, with handsets running on Google's Android software and iPhones enjoying booming popularity.
Nokia launched its new Windows Phone 7 in October, eight months after Elop announced a partnership with Microsoft Corp., in a major strategy shift for the firm. Nokia said it would gradually replace the old Symbian platform used in its smartphones with the Windows operating system.
Nokia became the leading handset maker in 1998 and reached 40 per cent market share in 2008, but the company has gradually lost share since then - falling to below 30 per cent last year.
Agency



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