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Deflation setting in? Nokia halves price of Lumia 900, investors see it as sign of desperation.

Nokia halves price of Lumia 900, investors see it as sign of desperation
Nokia halved the price of the Lumia 900 phone in the United States over the weekend to try and lure customers away from its rivals. 

"They are stuck between a rock and a hard place - to drive sales of their devices they are going to have to spend money on marketing and promotions, but at the same time the stock market is demanding they do anything other than spend money," said Ovum analyst Nick Dillon. 

Analysts expect Samsung to sell 50 millionsmartphones in the second quarter, a Reuters poll showed on Monday, compared with Apple selling around 30 million iPhones and Nokia around 10 million smartphones. 

Nokia shares were 2.33 per cent lower at 1.476 euros by 1116 GMT, after falling more than 3 per cent earlier in the session and still near a 16-year low of 1.434 euros reached last week. 

The proportion of Nokia shares out on loan has risen to 13.2 per cent in the last month, Markit data showed, as speculative investors took bearish positions ahead of the report. 

"I don't think that the company will have anything positive to say on Thursday," said Mikael Rautanen, analyst at equity research firm Inderes in Helsinki. "The third quarter will be very difficult ... The fight to survival will continue." 

Nokia is expected to report a net loss roughly doubling to 706 million euros ($864.4 million) and burn through more than a billion of cash in just three months, according to a Reuters poll of 38 analysts. 


http://economictimes.indiatimes.com/tech/hardware/nokia-halves-price-of-lumia-900-investors-see-it-as-sign-of-desperation/articleshow/14998530.cms

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