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Nokia (NOK) Looks to Fend Off Low-Cost Competition with New Lumia

February 22, 2013 6:56 AM EST
According to Google Translate, the Finnish word for cheap is halvalla. Nokia (NYSE: NOK) investors might now have that word running around their heads into Nokia's presentation at Mobile World Congress in Barcelona, Spain. During the event, Nokia is slated to announce a new line of cheaper smartphones aimed at addressing the emerging market scene.

Reuters notes Friday that the move would show that Nokia is becoming more focused on beyond addressing the high-end market against such rivals as Samsung and Apple (Nasdaq: AAPL). Next-generation smartphones will likely compete against low-cost devices made by local producers in China, such as ZTE and Huawei.

Pricing and other details haven't been made available yet, but the new Lumia devices are also expected to run Microsoft's (Nasdaq: MSFT) Windows Phone 8.

Mobile World Congress will take place from February 25th through the 28th, 2013. Nokia shares are up in early trading Friday.


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