Nokia's (NOK) Latest Smartphone May Shake-Up Rivals' WP8 Strategy
According to Digitimes, Nokia's launch of the Lumia 620 smartphones, which is based on Microsoft's Windows Phone 8 operating system, may add pressure for HTC, ZTE Corp and Huawei to come out with lower-priced alternatives and may affect overall pricing trends for the segment.
Nokia's Lumia 620 will price at $250 unlocked, about half the cost of its closest rivals.
Nokia recently announced a new deal with China Mobile (NYSE CHL) for its Lumia 920T handset, while HTC has its 8X and 8S models running on China Mobile, China Telecom (NYSE: CHA), and China Unicom (NYSE: CHU).
Shares of Nokia are indicated higher Friday morning.